PANews
PANews|Apr 02, 2025 14:53
CoinDesk: Sun Yuchen fills the $456 million funding gap for TUSD According to CoinDesk, Tron founder Sun Yuchen provided emergency liquidity support to maintain TUSD's redemption ability after TUSD encountered $456 million in reserve funds illegally diverted to Dubai entity Aria Commodities DMCC. The document shows that the funds were originally managed by First Digital Trust, but were later accused of unauthorized transfer to resource projects with extremely low liquidity, such as mining, ports, and renewable energy in emerging markets. TUSD's parent company Techteryx has 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 that user redemptions are not affected. At present, the TUSD price is around 0.998 US dollars, close to its anchor value of 1 US dollar.
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