TrueUSD Stablecoin Faces De-Pegging Crisis Amid Market Turmoil

TrueUSD (TUSD) has not recovered from a de-pegging crisis as over $238 million worth of TUSD was sold on Binance in the last 24 hours, driving the stablecoin’s price down to $0.9708. The significant sell-off has further deepened the de-pegging issue. The price of TUSD plummeted to $0.9708 around 06:00 today, but current data shows some recovery, with the coin trading around $0.9882. This follows a loss of its dollar peg on January 15th when users reportedly sold hundreds of millions of dollars in TUSD. TrueUSD announced on January 17th a complete overhaul of its fiat reserve audit system in partnership with Hong Kong-based accounting firm MooreHK.

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