$TUSD TrueUSD Nears $1 Amid Reported Redemption Issues

TUSD fell as low as 97 cents as Binance data showed traders apparently sold more than $300 million.

The stablecoin TrueUSD (TUSD) continued to drift away from its peg, trading as high as 96 cents early Thursday, before rallying back to 99 cents, with some firms saying their redemption requests had been denied.

According to Binance trading data, traders sold $303.5 million in thousands against $129 million in purchases, resulting in a negative net flow of $174.5 million.

A major cryptocurrency quant trading fi.... that spoke to CoinDesk on Background said its redemption requests were denied

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