The team of stablecoin issuer Trust Reserve has been detained by Chinese law enforcement.
According to a recent report by local media PANews, the issuer of the Chinese Yuan and 2 Hong Kong Dollar-backed stablecoins Trust Reserve‘s core team May 29in by chinese police was detained.
Chinese police have not yet made a statement regarding the detention. News agency staff members of the Trust Reserve to your office in China when you goTemporarily confiscated by court order” was encountered. The detention process and interrogation of the team continues.
Trust Reserve last March KuCoin ventures led by A Series + in the funding round Circle And IDG Capitalwith the participation of 10 million He came to the fore by collecting dollars. At that time the company from 60 more staff were available. The company has been in the past positive One image exhibited and to the public It did not have any legal problems reflected.
This news from China, recently Multichain CEOthat he may have been arrested in China. to conspiracy theories occurred in parallel. From the CEO of Multichain no news for weeks and the community continues to wait anxiously.