According to Cointelegraph: The stablecoin TrueUSD (TUSD), linked with Tron founder Justin Sun, has upgraded its fiat reserve audit system to restore its dollar peg after unexpected market fluctuations. Despite these efforts, its price dipped to $0.97 on January 18th.
TUSD's value began to deviate from its dollar peg on January 15th, falling to $0.984 at 11:15 pm UTC.
In response to these challenges, TrueUSD announced its partnership with the accounting firm Moore Hong Kong. This firm will provide daily attestations of the stablecoin's fiat reserves, working alongside the existing provider, The Network Firm. The TrueUSD team asserted that the report under the new system would feature details pertaining to reserve funds held by its financial partners. Michelle Chu, an executive at Moore Hong Kong, stated that they would cooperate with The Network Firm to allow TUSD users to monitor its reserves.
Despite implementing the new auditing system, TUSD price continued to decline, reaching as low as $0.97 on January 18th, according to data from CoinMarketCap. As of now, TUSD's price oscillates around $0.99 on both CoinMarketCap and Binance.
