TrueUSD (TUSD) Partners With Top Accounting Firm To Enhance Transparency For Crypto Holders

In a significant move to enhance transparency and trust, TrueUSD (TUSD) has partnered with Moore Hong Kong (MooreHK), a leading accounting firm with a rich legacy dating back to 1975. Starting January 2024, MooreHK will conduct daily attestations, providing stakeholders and TUSD token holders with detailed reports, reinforcing TUSD's commitment to reliability and industry leadership.

Timeline of Trueusd

TrueUSD (TUSD) stablecoin depegs and dropped to a low of $0.995 amid various factors including large sell orders after Changpeng “CZ” Zhao stepped down as Binance's CEO and after Reuters reported that terrorists prefer Justin Sun's Tron to Bitcoin for facilitating terror financing. Currently, TUSD price trades at $0.997 after trying to repeg.

Key Points: TUSD team received a concerning notification from TrueCoin alert , indicating a security breach detected by a third-party vendor. Specifically, the vendor's Security Team uncovered an anomalous account change within TrueCoin's organization, attributed to a compromised support vendor.

On Friday afternoon, HTX board member Justin Sun undertook a mass printing of the little-used stablecoin TUSD, a move that caught the attention of traders as over $815 million entered circulation in less than 15 minutes.

Understanding the dynamics of stablecoin supplies is a crucial aspect of crypto market analysis, as stablecoins play a pivotal role in the cryptocurrency ecosystem. Fluctuations in the market cap of these pegged assets can signal shifts in investor sentiment, liquidity changes, and overall market health.

Binance Holdings Ltd., the world's largest cryptocurrency exchange in terms of daily trading volume, has faced significant challenges and negative impacts as a result of legal actions initiated by the U.S. Securities and Exchange Commission (SEC).

The founder of Archblock, a prominent blockchain technology company, has filed a lawsuit alleging that Justin Sun, the founder of Tron and CEO of BitTorrent, was the secret acquirer of TrueUSD (TUSD).

Digital currency has long promised a realm of transparency and accountability, but as Professor and IT executive Adam Cochran delved into the intricate web of connections linking the digital asset TUSD to Justin Sun, it became clear that the picture was far from black and white.

TrueUSD (TUSD), a stablecoin pegged to the US dollar, has seen a significant drop in its value compared to tether (USDT) on Binance.US, the American branch of the global cryptocurrency exchange, Binance.

Former members of the now-defunct FTX.US accounting team, now operating as The Network Firm, have conducted the attestation of TrueUSD's proof-of-reserves (PoR) as the stablecoin seeks to regain stability following a brief de-pegging incident.

While TrueUSD (TUSD) denies its exposure to crypto custodian Prime Trust, it has depegged for the second time this month. Prime Trust was placed into receivership on Tuesday after rival BitGo called off its bid to acquire Prime Trust.