The $2 billion in reserves that support Archblock's stablecoin TrueUSD are under its management (TUSD). Following the reserve transfer, Capital Union Bank now has more than $1.4 billion, according to a real-time attestation released on Wednesday by a reputable accounting company. From $438 million on March 10, this is an increase.

As New York-based Signature Bank, formerly Archblock's biggest banking partner, was unceremoniously shut down by US regulators two days later, Archblock started transferring money. It has no funds with Signature Bank at the moment.

After it was successful in establishing a name for TrueCurrencies, Archblock was established in 2017 under the name "TrustToken" (TUSD). TrustToken decided in September 2022 to concentrate on the development of #DeFi products for companies and financial institutions under the new brand name of Archblock.

According to Alex de Lorraine, chief operating and finance officer of Archblock, the decision to transfer money to Capital Union in recent days was brought on by deteriorating banking conditions for money businesses dealing in electronics in the US.

As previously noted, US regulators forced the closure or voluntary dissolution of Silvergate Bank, Silicon Valley Bank, and Signature Bank this month. In an effort to safeguard their assets and enable consumer money transfers, many digital asset companies are now in a precarious position.

Following the disclosure that it had deposited $3.3 billion in Silicon Valley Bank, Circle Internet Finance Ltd. witnessed the greatest dollar value loss in the history of its USDC token.

Prior to that, Capital Union also collaborated with Tether, a cryptocurrency whose primary cash reserves are kept in Bahamas-based banks. Customers can deposit and trade digital assets in the same account as fiat money or other assets at the well-known crypto business partner, Capital Union Bank.

The decentralized lending technology TrueFi's governance token, TRU, has increased by more than 200% recently. This was spurred by a flood of rumors regarding Binance stablecoins.

The largest #cryptocurrency exchange in the world, Binance, created $50 million worth of the stablecoin TrueUSD (TUSD). After the regulatory crackdown on Binance USD (BUSD) issued by Paxos, the event has led to discussion among cryptocurrency investors about TUSD possibly playing a larger role in trading on the Binance exchange.

For many investors, it is necessary to clarify that this FOMO token TRU. #TRU and #TUSD are distinct. In particular, TrustToken, the company that created #TrueUSD and TRU, split them off in the past.

As a result, TRU's price immediately reached its previous level. The token is currently being traded for $0.97.

🚀 Gem Project Analysis! 🌟#DeFi x #RWA Gem Project TrueFi (TRU) 📈
🚀 TrueFi – pioneering decentralized finance (DeFi) lending on Ethereum! 💸🌐
🚀 Let's dive into key features and potential of #TrueFi in this captivating thread! 🧵👇
1️⃣ Introduction and Overview: TrueFi, developed by the TrustToken team, redefines lending with its uncollateralized lending protocol on Ethereum. By bringing debt infrastructure on-chain, TrueFi aims to democratize access to credit, making it transparent and programmable.
2️⃣ Technology and Feature: Built on Ethereum and Optimism, TrueFi facilitates uncollateralized lending for both crypto-native and real-world financial opportunities. It serves borrowers and capital managers across various verticals, fostering accessibility and efficiency in lending.
3️⃣ Whitepaper Analysis: It is a Protocol for interest-bearing pools with high APR & its Utility and rewards mechanisms using TrustTokens (TRU). It is Designed for uncollateralized lending with on-chain credit model, Governed by TRU token holders.
4️⃣ Use Case: TrueFi offers uncollateralized lending services with its native token, TRU, used for governance and staking. TRU holders influence the protocol's direction through on-chain voting, earning incentives and a share of revenue for providing lenders with coverage against default.
5️⃣ Team and Leadership: TrueFi is developed by the TrustToken team, driving the protocol's operation and development. Though specific team members aren't mentioned, their expertise propels TrueFi's growth in the DeFi landscape.
6️⃣ Partnerships: TrueFi boasts partnerships with industry giants like Binance, SushiSwap, and Chainlink, solidifying its position in the DeFi ecosystem. Plans for a real-world-asset-based lending platform called Trinity further expand its reach.
7️⃣ Security and Audits: TrueFi's smart contracts are audited by Chainsecurity, ensuring robust security measures. Blockchain-based credit scores guide unsecured loan decisions, enhancing transparency and reliability.
8️⃣ Tokenomics: With a total supply of 1.45 billion TRU tokens, allocations include incentives (39%), pre-sale (26.75%), team (18.5%), and company/foundation (11.25%). Circulating supply stands at approximately 1.22 billion tokens.
9️⃣ Exchanges: TRU tokens are actively traded on major exchanges like Binance, Coinbase, and Gate.io, ensuring liquidity and accessibility for users.
🔟 Recent Developments: TrueFi unveils plans for Trinity, a real-world-asset-based lending platform, and expands support for ERC-20 stablecoins TUSD, USDC, and USDT, reflecting its commitment to innovation and growth in the DeFi space.
1️⃣1️⃣ Conclusion: TrueFi emerges as a beacon of promise in DeFi & RWA, offering uncollateralized lending services and forging strategic partnerships with industry leaders, positioning itself at the forefront of decentralized finance.
🌟 If You find this thread useful Repost it & Follow us for More Latest Crypto Analysis, News, Updates & Crypto Insights @crypto__fossa 🙏🏻
#TRU/USDT #TrueUSD #rwa #RWATokens #Ethereum✅ $TRU $ETH $BNB

TrueUSD has depegged from the U.S. dollar, reaching a low of $0.9708, with Binance experiencing a net outflow of approximately $154.5 million in TUSD trades.The stablecoin issuer, suspected to be associated with TRON’s Justin Sun, cites “normal market dynamics” amidst concerns following a $100 million security breach on the Poloniex exchange.
Depegging Drama for TrueUSD
In the digital asset markets where stability is often taken for granted, TrueUSD (TUSD) has experienced a notable deviation from its intended 1:1 parity with the U.S. dollar. The stablecoin witnessed a troubling dip to $0.9708 in Asia, before making a modest recovery. Traders on Binance have reacted to this instability by selling off substantial amounts of TUSD.
A Sudden Sell-off Surge
The past 24 hours have seen a dramatic shift in TrueUSD‘s position on Binance. The platform recorded heavy selling activity, with a stark disparity between sales and purchases of TUSD. This sell-off resulted in a net outflow that underscores the market’s nervousness surrounding the stablecoin’s ability to maintain its peg.
Suspension and Speculation
On January 10, TrueUSD’s suspension of real-time attestations for its reserves raised eyebrows across the crypto community, with speculation about the firm’s capacity to back its tokens. Though TrueUSD attributed the suspension to internal errors, the assurances did little to quell the disquiet.
Auditing Upgrades and Market Mechanics
In response to the concerns, TrueUSD has announced an overhaul of its fiat reserve audit system, with enhanced reporting in collaboration with MooreHK. The issuer has also commented on the market’s reaction to Binance’s launchpool program, which may have prompted a shift away from TUSD towards other staking options.
Repercussions of the Poloniex Breach
Further compounding the challenges for TrueUSD, there have been whispers of a connection between the stablecoin and Justin Sun, the TRON founder who recently faced a $100 million security breach on his exchange, Poloniex. This association, whether perceived or real, could have contributed to the recent unease surrounding TrueUSD.
As the crypto market digests these developments, TrueUSD‘s response to the current situation remains a point of significant interest, with the community awaiting further clarification from the stablecoin issuer.
Disclaimer
This content aims to enrich readers with information. Always conduct independent research and use discretionary funds before investing. All buying, selling, and crypto asset investment activities are the responsibility of the reader.
#TrueUSD #Bitcoin