TUSD lost its stability against the dollar after the statement by the stablecoin TrueUSD, which is backed by the cryptocurrency exchange Binance.
In the middle of the turbulent cryptocurrency market Binance The explanation from the backed stablecoin is on the price a sudden setback triggered. TrueUSD made by the team on social media. in the statement, Prime Trust carried out through TUSD print of operations has been stopped declared.
While this statement, which came during the hours of a collapse in the crypto money market, worried investors, the TrueUSD team, activities will continue without interruption. stressed.
TUSD printing and redemption services will not be affected and will continue to operate as usual. We want to assure you that our partnerships with other banking institutions remain intact and enable smooth transactions.
The stablecoin issuer, which has taken action in line with pressure from US-based regulatory agencies in the past months Circle, Binance USD (BUSD) announced that it would cease printing operations. Following the developments, Binance, which carries out a TUSD-focused stablecoin strategy, banking solutions It still has difficulties in finding partners for it.
Sudden drop on Binance.US
After the explanation Binance.US on you TUSD/USD trading pair for $0.87 as much as it declined. After the short-term decline, TUSD stabilized the dollar quickly regained. On the other hand, according to CoinGecko data, other exchanges There was no such decrease.. Looking at the average data, the TUSD parity is only $0.991 fell down.
U.S. Securities and Exchange Commission’s (SEC) With Binance filing a lawsuit, a significant amount of assets were seen out of Binance.US, the US subsidiary of the stock market. In this direction, the decreasing volume causes incoming news to create short-term but deep movements in stock market-specific assets.
Rooted actor in the crypto money industry BitGo having a bad day financially Purchasing Prime Trust announced recently that it was launched.