HomeAltcoinsTrueUSD is no longer equal to one dollar, it has dropped to...

TrueUSD is no longer equal to one dollar, it has dropped to $0. 97


The value of Stablecoin TrueUSD went down to about $0. 9708 on Thursday morning in Asia. TUSD went up a little and is trading at about $0. 9723 at 11:15 a. m The Block’s price data shows that in Hong Kong.

The stablecoin’s value fell below the value of the U. S The value of the dollar on January. 15 people have been selling a lot of TUSD, worth hundreds of millions. In the last day, people sold $238. 3 million of TrueUSD and bought $83. 8 million of it on Binance. This shows that about $154. 5 million was sent out.

On January 10, it was reported that TrueUSD stopped showing real-time proof of its reserves. One user thought that the company couldn’t back up the tokens with enough collateral. The company said the incident happened because of some mistakes made within the company.

TrueUSD announced on Wednesday that it has improved its system for checking the money it holds in reserves. It worked with an accounting company based in Hong Kong, called MooreHK, to make these improvements. “The improved report now has more information about the money kept by its financial partners,” said TrueUSD.

Justin d’Anethan, who works at a company that helps people trade cryptocurrencies, said that because of a new program called MANTA, many investors are now selling a stablecoin called TUSD in order to buy BNB or FDUSD.

TrueUSD, which is closely linked to TRON founder Justin Sun, may have been impacted by the $100 million security breach at Sun’s cryptocurrency exchange Poloniex, according to Nick Ruck, chief operating officer of ContentFi Labs.

The company that makes stablecoins said that the quick trading after the Binance Launchpool program is just a normal part of how the market works.

TrueUSD did not quickly reply to The Block’s request for more comments on Thursday.


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