CoinDesk: Sun Yuchen fills a $456 million funding gap for TUSD
According to CoinDesk, Tron founder Justin Sun provided emergency liquidity support to maintain TUSD's payment ability after $456 million in reserve funds were illegally misappropriated to Dubai entity Aria Commodities DMCC. Documents show that the funds should have been managed by First Digital Trust but were allegedly unauthorizedly invested in extremely low-liquidity resource projects. TUSD parent company Techteryx claimed to be a victim of "massive fraud" and has filed a lawsuit with the Hong Kong court. To stabilize the market, the team also isolated 400 million TUSDs to ensure user redemptions are not affected.
Currently, the price of TUSD is approximately $0.998, close to its anchor value of $1.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Antalpha’s Q1 Net Income Surges 423% Year-on-Year, Tether Holds 8.1% Stake
Arthur Hayes: The United States Is Heading Toward Treasury Debt Forgiveness
Data: Crypto sector plunges across the board, AI sector leads losses with a 5.32% drop, BTC falls below $105,000
Trending news
MoreCrypto prices
More
