TrueUSD(TUSD)

[PRESS RELEASE – Dubai, UAE, February 7th, 2024] CoinMarketCap Research released a report on TrueUSD (TUSD), the USD-pegged stablecoin that offers live, on-chain attestations of its reserves by independent, third-party accounting firms. The report highlighted that TUSD’s market share in the stablecoin sector increased by over 238%. In 2023, TUSD’s market share increased from 0.53% […]

TrueUSD (TUSD) experienced a significant depreciation, dropping to as low as 97 cents, triggered by reports of traders liquidating over $300 million worth of the stablecoin, according to data from Binance. Binance’s announcement on January 15 about farming $MANTA by staking $BNB and $FDUSD, excluding $TUSD, played a pivotal role […]

TUSD went as low as 96 cents as Binance data shows traders apparently sold over $300 million worth in the past 24 hours.

Justin Sun-linked stablecoin TrueUSD (TUSD) has continued to depeg, hitting a low of $0.97 as traders continue to dump the stablecoin in favor of USDT.

Explore the latest twists in the cryptocurrency saga as TrueUSD (TUSD) loses its dollar peg, sparking market-wide concerns. Uncover how this unexpected shift impacts major players like Polygon (MATIC), Solana (SOL), and Polkadot (DOT), and what it means for their future. Delve into the intricacies of each coin's performance, including MATIC's partnerships, SOL's altcoin season potential, and DOT's transactional growth. Stay informed with our comprehensive analysis as we navigate the unpredictable currents of the crypto world and its interconnected fate.

TUSD experienced a decline to $0.985, signifying its second deviation from the $1 peg within the past two months.

Binance introduced zero-fee FDUSD trading in December, giving users an incentive to sell.

In a surprising turn of events, the stability of TrueUSD (TUSD) experienced a significant dip, dropping to $0.995. This decline was triggered by several factors, including the resignation of Binance’s former CEO, Changpeng Zhao (CZ), and contentious statements suggesting that terrorists prefer Justin Sun’s Tron over Bitcoin for funding activities. […]

TrueCoin’s internal systems were not impacted or accessed, as the company confirmed that the attack was an isolated incident and limited to a third-party vendor.

Geneva, Switzerland, August 17th, 2023, ChainwireTRON DAO Ventures, the investment arm of TRON DAO, has recently bought $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on both the TRON and the BTTC networks.Curve is a decentralized exchange acclaimed for its automated market makers (AMMs) tailored for stablecoin trading. Having experienced an exponential surge in the latter half of 2020, it once established itself as the epitome of DeFi platforms. Currently, Curve ranks as the world's second-largest decentralized exchange (DEX) and the largest DEX for stablecoin trading.The recent hack targeting the platform has led to a chain reaction in the DeFi space. TRON founder Justin Sun promptly expressed his support for Curve after the incident, stating, "Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let's support and strengthen the security measures to protect our decentralized ecosystem."Amidst the volatile market on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool on the platform. stUSDT, the world's first rebase real-world asset (RWA) protocol on the TRON blockchain, is hailed as the Web3 world's version of Yu'E Bao (once China’s largest money market fund). According to Defillama, the TVL on stUSDT has already exceeded $700 million.Following that, TRON DAO Ventures announced its investment in Curve, underscoring TRON's ecosystem support not only through collaboration but also through financial backing. Meanwhile, Curve will integrate with the TRON and the BTTC networks as part of the partnership.The collaboration among TRON, BTTC, and Curve is set to generate crucial synergies for the industry. Curve, a foundation infrastructure in the DeFi domain, offers significant advantages in terms of reduced financial costs and time inefficiencies while also supporting prominent public blockchains like Ethereum, Arbitrum, and Avalanche. This collaboration is poised to help further develop TRON's DeFi ecosystem. Meanwhile, as a major driver of DeFi innovation, TRON will share its most secure and cutting-edge products with Curve.The integration between Curve and BTTC will also fuel the growth of DeFi ecosystems, especially DEX platforms. As the industry's first heterogeneous cross-chain interoperability protocol, BTTC has supported cross-chain functionality between TRON, Ethereum, and BNB Chain upon its release. It will also introduce zero-knowledge (ZK) proof technology later this year, which enables users to build dApps seamlessly across different blockchains, promoting an inclusive ecosystem open to everyone.With the backing of TRON and BTTC, Curve anticipates a rapid rebound, and users are bound to witness a more vibrant DeFi ecosystem in the crypto industry.About TRON DAOTRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2023, it has over 179.07 million total user accounts on the blockchain, more than 6.26 billion total transactions, and over $13.01 billion in total value locked (TVL), as reported on TRONSCAN.In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | ForumAbout CurveFounded by Michael Egorov and launched in January 2020, Curve Finance positions itself as a DEX built on an AMM model. It focuses on the trading of stablecoins (USDT, USDC, DAI), synthetic assets/derivatives/staking assets (wBTC, renBTC, stETH), etc. In addition to its stronghold Ethereum, Curve also extended its presence across other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.ContactHayward [email protected]

Geneva, Switzerland, August 17th, 2023, ChainwireTRON DAO Ventures, the investment arm of TRON DAO, has recently bought $2 million worth of CRV tokens. As part of this strategic partnership, Curve will launch on both the TRON and the BTTC networks.Curve is a decentralized exchange acclaimed for its automated market makers (AMMs) tailored for stablecoin trading. Having experienced an exponential surge in the latter half of 2020, it once established itself as the epitome of DeFi platforms. Currently, Curve ranks as the world's second-largest decentralized exchange (DEX) and the largest DEX for stablecoin trading.The recent hack targeting the platform has led to a chain reaction in the DeFi space. TRON founder Justin Sun promptly expressed his support for Curve after the incident, stating, "Curve is an essential DeFi infrastructure for the blockchain industry. Our thoughts are with the team and the users affected. As a community, let's support and strengthen the security measures to protect our decentralized ecosystem."Amidst the volatile market on August 1, TRON forged a partnership with Curve, introducing a stUSDT pool on the platform. stUSDT, the world's first rebase real-world asset (RWA) protocol on the TRON blockchain, is hailed as the Web3 world's version of Yu'E Bao (once China’s largest money market fund). According to Defillama, the TVL on stUSDT has already exceeded $700 million.Following that, TRON DAO Ventures announced its investment in Curve, underscoring TRON's ecosystem support not only through collaboration but also through financial backing. Meanwhile, Curve will integrate with the TRON and the BTTC networks as part of the partnership.The collaboration among TRON, BTTC, and Curve is set to generate crucial synergies for the industry. Curve, a foundation infrastructure in the DeFi domain, offers significant advantages in terms of reduced financial costs and time inefficiencies while also supporting prominent public blockchains like Ethereum, Arbitrum, and Avalanche. This collaboration is poised to help further develop TRON's DeFi ecosystem. Meanwhile, as a major driver of DeFi innovation, TRON will share its most secure and cutting-edge products with Curve.The integration between Curve and BTTC will also fuel the growth of DeFi ecosystems, especially DEX platforms. As the industry's first heterogeneous cross-chain interoperability protocol, BTTC has supported cross-chain functionality between TRON, Ethereum, and BNB Chain upon its release. It will also introduce zero-knowledge (ZK) proof technology later this year, which enables users to build dApps seamlessly across different blockchains, promoting an inclusive ecosystem open to everyone.With the backing of TRON and BTTC, Curve anticipates a rapid rebound, and users are bound to witness a more vibrant DeFi ecosystem in the crypto industry.About TRON DAOTRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of August 2023, it has over 179.07 million total user accounts on the blockchain, more than 6.26 billion total transactions, and over $13.01 billion in total value locked (TVL), as reported on TRONSCAN.In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | ForumAbout CurveFounded by Michael Egorov and launched in January 2020, Curve Finance positions itself as a DEX built on an AMM model. It focuses on the trading of stablecoins (USDT, USDC, DAI), synthetic assets/derivatives/staking assets (wBTC, renBTC, stETH), etc. In addition to its stronghold Ethereum, Curve also extended its presence across other chains such as Fantom, Polygon, Avalanche, Arbitrum, and Optimism.ContactHayward [email protected]

[PRESS RELEASE – Singapore, Singapore, August 15th, 2023] The latest Merkle tree asset proof data in August 2023 includes an update on ETH & stETH and USDT & stUSDT. Users can view Huobi reserves in detail on the asset audit page of Huobi’s official website. The available information includes reserve ratio, Huobi wallet’s assets, and […]

The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Two out of the three proposals in question opened for voting on the 10th of August. Details Of The Proposals The move by the Aave community comes as it attempts to limit the risk posed to the protocol by the large borrowing position held by Michael Egorov, the founder of Curve Finance. On-chain risk management platform Chaos Lab put forward the proposals. According to the platform, volatility in Curve markets had considerably increased after the recent exploit suffered by Curve. The CRV token is the native token of the decentralized finance (DeFi) protocol Curve Finance. Curve founder Egorov had used as much as 30% of CRV’s total market capitalization to take out nearly $60 million in loans on Aave. However, the Curve Finance hack significantly impacted the price of CRV, sending it plummeting. This made Egorov’s position vulnerable, potentially exposing Aave to a liquidation risk. The voting on the proposals is set to continue until the 12th of August. The first proposal seeks to reduce the liquidation threshold by 6% for CRV on Aave v2. This could lead to user accounts becoming subject to liquidation upon approval. The second proposal disables borrowing of CRV tokens on Polygon v3 and Ethereum. This would make it impossible to short CRV through the Aave protocol. The two proposals to limit Aave’s exposure have found overwhelming support in the community. So far, over 571,000 votes have been cast, with 100% of the votes in favor of limiting Aave’s exposure to CRV. The Third Proposal With fears surrounding Egorov’s loans, Aave’s community is also voting on a third proposal, voting for which ends on the 11th of August. The proposal, put forward by Aave Chan founder Marc Zeller, calls on the Aave treasury to purchase $2 million worth of CRV tokens from Curve Finance. Zeller’s reasoning for such a move is that it would signal that major DeFi players support Curve and the health of the larger DeFi ecosystem. However, this proposal has not gained as much support in the community, although a majority do support it. Currently, around 62% of votes favor the proposal, while 37% have voted against it. The Curve Finance Exploit Curve Finance suffered a major exploit at the beginning of the month, with hackers managing to siphon off millions worth of crypto. As a result of the hack, the protocol’s CRV token saw a significant price drop, casting a long shadow on the DeFi ecosystem. The decline in CRV’s value also put a $168 million lending position taken by Curve founder Michael Egorov at risk. If this position was liquidated, it could have disastrous consequences for the larger DeFi ecosystem, putting major protocols at risk. Following the exploit, crypto exchanges moved to suspend withdrawals, with Upbit among the first to act, suspending deposits and withdrawals of the CRV token. “Today, certain vulnerabilities have been discovered in some of the stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant volatility. We advise exercising caution when considering any investments related to CRV. To ensure the safety of digital asset transactions, we have temporarily suspended deposits and withdrawals for CRV.” However, Curve and Egorov found support from prominent players in the crypto space. These include Power DeFi user DCF God, Jeffrey Huang, and Tron Foundation CEO Justin Sun. All have since stepped in and purchased CRV from Egorov, resulting in the principal value of Egorov’s loans dropping to $54 million. Justin Sun posted a message in support of Curve, stating, “Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

The Aave community has started voting on three crucial proposals that could help significantly reduce the protocol’s exposure to Curve Finance’s CRV token. Two out of the three proposals in question opened for voting on the 10th of August. Details Of The Proposals The move by the Aave community comes as it attempts to limit the risk posed to the protocol by the large borrowing position held by Michael Egorov, the founder of Curve Finance. On-chain risk management platform Chaos Lab put forward the proposals. According to the platform, volatility in Curve markets had considerably increased after the recent exploit suffered by Curve. The CRV token is the native token of the decentralized finance (DeFi) protocol Curve Finance. Curve founder Egorov had used as much as 30% of CRV’s total market capitalization to take out nearly $60 million in loans on Aave. However, the Curve Finance hack significantly impacted the price of CRV, sending it plummeting. This made Egorov’s position vulnerable, potentially exposing Aave to a liquidation risk. The voting on the proposals is set to continue until the 12th of August. The first proposal seeks to reduce the liquidation threshold by 6% for CRV on Aave v2. This could lead to user accounts becoming subject to liquidation upon approval. The second proposal disables borrowing of CRV tokens on Polygon v3 and Ethereum. This would make it impossible to short CRV through the Aave protocol. The two proposals to limit Aave’s exposure have found overwhelming support in the community. So far, over 571,000 votes have been cast, with 100% of the votes in favor of limiting Aave’s exposure to CRV. The Third Proposal With fears surrounding Egorov’s loans, Aave’s community is also voting on a third proposal, voting for which ends on the 11th of August. The proposal, put forward by Aave Chan founder Marc Zeller, calls on the Aave treasury to purchase $2 million worth of CRV tokens from Curve Finance. Zeller’s reasoning for such a move is that it would signal that major DeFi players support Curve and the health of the larger DeFi ecosystem. However, this proposal has not gained as much support in the community, although a majority do support it. Currently, around 62% of votes favor the proposal, while 37% have voted against it. The Curve Finance Exploit Curve Finance suffered a major exploit at the beginning of the month, with hackers managing to siphon off millions worth of crypto. As a result of the hack, the protocol’s CRV token saw a significant price drop, casting a long shadow on the DeFi ecosystem. The decline in CRV’s value also put a $168 million lending position taken by Curve founder Michael Egorov at risk. If this position was liquidated, it could have disastrous consequences for the larger DeFi ecosystem, putting major protocols at risk. Following the exploit, crypto exchanges moved to suspend withdrawals, with Upbit among the first to act, suspending deposits and withdrawals of the CRV token. “Today, certain vulnerabilities have been discovered in some of the stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant volatility. We advise exercising caution when considering any investments related to CRV. To ensure the safety of digital asset transactions, we have temporarily suspended deposits and withdrawals for CRV.” However, Curve and Egorov found support from prominent players in the crypto space. These include Power DeFi user DCF God, Jeffrey Huang, and Tron Foundation CEO Justin Sun. All have since stepped in and purchased CRV from Egorov, resulting in the principal value of Egorov’s loans dropping to $54 million. Justin Sun posted a message in support of Curve, stating, “Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume.In a series of recent tweets, Cochran pointed to significant discrepancies in Huobi's reported Tether (USDT) holdings, suggesting that the firm might be failing to meet its financial obligations. Cochran bases his assertions on a detailed examination of Huobi's balance sheets and the recent activities of Justin Sun, the founder of Tron. Despite these allegations, Huobi maintains that all operations are proceeding as normal. According to Cochran's investigation, Huobi's own "Merkle Tree Audit" indicates a significant discrepancy in the exchange's held assets. He points out that while the audit lists that Huobi users hold $631 million worth of Tether (USDT), Huobi's actual holdings amount to only $90 million. This significant gap, Cochran alleges, is indicative of insolvency. Cochran further argues that Sun has been treating the exchange like a personal piggy bank, transferring funds to his decentralized finance (DeFi) projects and thus leaving the exchange unable to meet its obligations. Specifically, he alleges that Sun is inflating the yield on his DeFi apps to entice more deposits into Huobi. Adding to the concerns, Cochran noted a substantial sell-off of Tether (USDT) on Binance, which he believes is connected to the solvency fears surrounding Huobi. He also raised questions about Sun's recently launched "stUSDT", a variant of USDT that Sun claims is backed by government bonds. Cochran alleges that the stUSDT does not have sufficient backing, which further compounds the potential risk. Cochran also pointed out that certain Huobi and Tron executives are reportedly under investigation by Chinese authorities, a development that has fanned the flames of these allegations. These apprehended individuals reportedly include key personnel from both organizations, adding more credibrility to the concerns about Huobi's financial stability. Huobi has denied any wrongdoing and maintains that all operations are running normally. However, Cochran dismissed these assertions, stating that his source, a senior executive at Tron, confirmed that team members are indeed under investigation due to actions related to Huobi. Cochran's analysis, if accurate, paints a worrying picture for Huobi's financial health, adding fuel to rumors of the company's potential insolvency. If Huobi users begin to lose faith in the exchange's financial stability, it could lead to a mass exodus from the platform and significant upheaval in the crypto market. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Prominent crypto analyst and investor Adam Cochran has called into question the solvency of Huobi, the 12th largest cryptocurrency exchange globally by spot trading volume.In a series of recent tweets, Cochran pointed to significant discrepancies in Huobi's reported Tether (USDT) holdings, suggesting that the firm might be failing to meet its financial obligations. Cochran bases his assertions on a detailed examination of Huobi's balance sheets and the recent activities of Justin Sun, the founder of Tron. Despite these allegations, Huobi maintains that all operations are proceeding as normal. According to Cochran's investigation, Huobi's own "Merkle Tree Audit" indicates a significant discrepancy in the exchange's held assets. He points out that while the audit lists that Huobi users hold $631 million worth of Tether (USDT), Huobi's actual holdings amount to only $90 million. This significant gap, Cochran alleges, is indicative of insolvency. Cochran further argues that Sun has been treating the exchange like a personal piggy bank, transferring funds to his decentralized finance (DeFi) projects and thus leaving the exchange unable to meet its obligations. Specifically, he alleges that Sun is inflating the yield on his DeFi apps to entice more deposits into Huobi. Adding to the concerns, Cochran noted a substantial sell-off of Tether (USDT) on Binance, which he believes is connected to the solvency fears surrounding Huobi. He also raised questions about Sun's recently launched "stUSDT", a variant of USDT that Sun claims is backed by government bonds. Cochran alleges that the stUSDT does not have sufficient backing, which further compounds the potential risk. Cochran also pointed out that certain Huobi and Tron executives are reportedly under investigation by Chinese authorities, a development that has fanned the flames of these allegations. These apprehended individuals reportedly include key personnel from both organizations, adding more credibrility to the concerns about Huobi's financial stability. Huobi has denied any wrongdoing and maintains that all operations are running normally. However, Cochran dismissed these assertions, stating that his source, a senior executive at Tron, confirmed that team members are indeed under investigation due to actions related to Huobi. Cochran's analysis, if accurate, paints a worrying picture for Huobi's financial health, adding fuel to rumors of the company's potential insolvency. If Huobi users begin to lose faith in the exchange's financial stability, it could lead to a mass exodus from the platform and significant upheaval in the crypto market. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Curve Finance and CEO Michael Egorov have received support from prominent names in the crypto space, including Justin Sun and DCF God. Curve had suffered a major exploit earlier in the week, leading to the protocol losing nearly $50 million to hackers. Chaos At Curve Finance Curve Finance suffered a major exploit earlier in the week, allowing hackers to siphon off nearly $50 million worth of crypto. This included CRV tokens worth $4.52 million, leading to a significant drop in the token’s price. The exploit resulted from a reentrancy bug in Vyper, the programming language powering parts of the Curve ecosystem. The CRV token saw a decline of nearly 20% following the attack. The markets were further spooked after reports emerged that the founder of Curve Finance, Michael Egorov, had allegedly taken several loans, using nearly 47% of the total circulating supply of CRV. Reentrancy attacks have become relatively common in the DeFi space. In such an exploit, hackers trick smart contracts by making repeated calls to the protocol and stealing user assets. As a result, Upbit has suspended deposits and withdrawals of the CRV token, while other exchanges have warned users to exercise caution when dealing with investments related to CRV. Upbit had tweeted, “Today, certain vulnerabilities have been discovered in some of the stablecoin pools associated with Curve (CRV). As a result, CRV is currently experiencing significant volatility. We advise exercising caution when considering any investments related to CRV. To ensure the safety of digital asset transactions, we have temporarily suspended deposits and withdrawals for CRV.” Curve And Egorov Find Support The plummeting CRV price significantly increased the risk of liquidating the loans Egorov took. However, prominent players from the crypto space have stepped in to assist Curve and Egorov. These include Power DeFi user DCF God, Tron Foundation CEO Justin Sun, and Jeffrey Huang, also known as Machi Big Brother. All have since stepped in and purchased CRV tokens from Egorov. As a result of this help, the principal value of Egorov’s loan dropped from $63 million to $54 million. Tron founder Justin Sun tweeted that he was excited to assist Curve, demonstrating his support for the protocol by acquiring a number of CRV tokens. According to available on-chain data, Sun purchased around 5 million CRV tokens worth around $3 million. The tokens were purchased from a wallet called the Curve.fi Founder, and was completed through an over-the-counter transaction. Sun tweeted, “Excited to assist Curve! As steadfast partners, we remain committed to providing support whenever needed. Our joint efforts will introduce an @stusdt pool on Curve, amplifying user benefits. Together, we aim to empower the community and forge a decentralized finance!” Other players that chipped in to assist Curve were Cream Finance, who sent Egorov $1 million in USDT and USDC stablecoins. Egorov also received $1.5 million worth of USDT from Jeffrey Huang (Machi Big Brother), according to data sourced from PeckShield. Egorov also transferred over 50 million CRV to other entities, including the Web3 investment firm DWF Labs and Power DeFi user DCF God. Going by these numbers, Egorov sold around 50 million CRV tokens at a price of around $0.4 per token, making the transactions worth close to $20 million. Major Implications For DeFi The Curve Finance exploit could have major implications for the larger DeFi ecosystem, with the CRV token’s value suffering a significant decline, putting Egorov’s $168 million lending position at risk of liquidation. If the position were to be liquidated, it could have a domino effect on the larger DeFi ecosystem. Egorov has a $70 million loan on Aave v2, for which he has used CRV as collateral. Additionally, he has also borrowed $17 worth of FRAX, putting $32 million worth of CRV as collateral, along with another $18 million loan from DeFi protocol Abracadabra. Concerns about the concentration of CRV on Aave were flagged by Gauntlet, who recommended freezing the token on Aave. “The amount of CRV concentrated on Aave, relative to the circulating supply of CRV, is already high. Given the limitations of V2 mechanisms, including the possibility of circumventing an LTV of 0, the only way to truly prevent more risk of this position is to prevent borrowing of all assets on V2.” Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Techteryx assumed "full management full management of all offshore operations and services related to TUSD," on July 13.

The rapidly growing TUSD, favored by crypto exchange Binance, poses risk to the market, according to the crypto research firm.

Geneva, Switzerland, July 4th, 2023, ChainwireTRON DAO, BitTorrent Chain (BTTC), and Huobi Ventures proudly present HackaTRON Season 5 (S5), an incredible showcase of talent in the fast-paced world of blockchain technology. In tandem with the much-anticipated TRON Builder Tour, we invite innovative minds to take part in this year's event, powered by an exceptional prize pool of up to 500,000*. It's time to set the stage for the next big thing in the blockchain universe!This season, HackaTRON S5 is ready to unravel the five distinctive tracks: Web3, DeFi, Artistry (featuring NFTs, GameFi, and Metaverse projects), Builder for our esteemed past participants, and the eagerly awaited AI track. Embark on this extraordinary journey to create, innovate, and inspire!Join the Journey with TRON Builder TourAlongside the thrilling launch of HackaTRON Season 5, we're taking the energy and innovation on the road with our TRON Builder Tour. This tour represents our commitment to fostering a robust, hands-on relationship with our vibrant community of developers. Participants will get a unique opportunity to engage with the TRON team directly, network with fellow developers, participate in Tron workshops, and immerse themselves in the world of blockchain.Our Tron Builder Tour will touch down at the following destinations:1. New York City: Stepping off on July 16, 20232. Los Angeles: Lighting up LA on July 27, 20233. Miami: Making waves on August 25, 20234. Berkeley: Energizing innovation on September 9, 20235. Princeton: Wrapping up our journey on September 23, 2023Mark your calendars, and prepare for a unique blend of learning, innovation, and community building.Unleash Your Potential in HackaTRON Season 5Taking part in HackaTRON Season 5 means more than the chance to compete for prizes. It's an invitation to delve into the future of blockchain technology, collaborate with the best in the industry, and translate your innovative ideas into reality.Here's why HackaTRON S5 is an opportunity you don't want to miss:Exposure: Take center stage and let your talents shine before a global audience of blockchain enthusiasts and experts.Collaboration: Harness the power of diverse minds. Working with fellow participants opens doors to shared learning and potential partnerships.Impact: Your contribution can redefine the future landscape of blockchain technology. Our event is tailored to the most current and critical issues in the industry.Opportunities: Beyond the competitive prize pool, participants could secure job offers, internships, or catch the eye of venture capitalists.Community: Immerse yourself in the dynamic TRON, BTTC, and Huobi Ventures communities. Together, we cultivate an environment of innovation, growth, and camaraderie.Ignite the Flame of Competition with Our Prize PoolWe're fueling your journey to success with a stellar prize pool of 500,000*, divided as follows:Judge-Selected Qualifiers (per track)- 1st Place: 25,000- 2nd Place: 15,000- 3rd Place: 10,000- 4th Place: 8,000- 5th Place: 6,000Community-Selected Winners- 1st Place: 7,000- 2nd Place: 6,000- 3rd Place: 5,000- 4th Place: 4,000- 5th Place: 3,000Note: All prizes are issued in USDD, not USD*Qualifying HackaTRON Season 5 participants are eligible to receive issuance of awards in USDD.For this season, we've teamed up with Huobi Ventures to ramp up the stakes. They'll award an extra 5,000 to each first-place winner and sponsor a 2,500 bug bounty in the TRON Builder Tour, totaling an additional 27,500.Note: All grant prizes are in USDD, not USDHackerEarth, a global developer network with 7.6M+ developers and 1000+ recruiters, will be the official hackathon platform partner for HackaTRON Season 5. This collaboration provides the tools and resources for participants to sharpen their skills and exhibit their talents.Join us on this trailblazing journey at HackaTRON Season 5, where we converge ambition, creativity, and the power of blockchain to create an unforgettable hackathon experience. Get ready to leave your footprints on the sands of the blockchain world. Stay tuned for more updates here.About TRON DAOTRON DAO is a community-governed DAO dedicated to accelerating the decentralization of the internet via blockchain technology and dApps.Founded in September 2017 by H.E. Justin Sun, the TRON network has continued to deliver impressive achievements since MainNet launch in May 2018. July 2018 also marked the ecosystem integration of BitTorrent, a pioneer in decentralized Web3 services boasting over 100 million monthly active users. The TRON network has gained incredible traction in recent years. As of July 2023, it has over 170.5 million total user accounts on the blockchain, more than 6.05 billion total transactions, and over $12.74 billion in total value locked (TVL), as reported on TRONSCAN.In addition, TRON hosts the largest circulating supply of USD Tether (USDT) stablecoin across the globe, overtaking USDT on Ethereum since April 2021. The TRON network completed full decentralization in December 2021 and is now a community-governed DAO. Most recently in October 2022, TRON was designated as the national blockchain for the Commonwealth of Dominica, which marks the first time a major public blockchain partnered with a sovereign nation to develop its national blockchain infrastructure. On top of the government’s endorsement to issue Dominica Coin (“DMC”), a blockchain-based fan token to help promote Dominica’s global fanfare, seven existing TRON-based tokens - TRX, BTT, NFT, JST, USDD, USDT, TUSD, have been granted statutory status as authorized digital currency and medium of exchange in the country.TRONNetwork | TRONDAO | Twitter | YouTube | Telegram | Discord | Reddit | GitHub | Medium | ForumAbout BitTorrent ChainBitTorrent Chain (BTTC) is the world’s first heterogeneous cross-chain interoperability protocol, which adopts the PoS (Proof-of-Stake) mechanism and leverages sidechains for the scaling of smart contracts. It now enables interoperability with the public chains of Ethereum, TRON, and BNB Chain. Fully compatible with EVM, BitTorrent Chain facilitates the seamless transfer of assets across mainstream public chains. The governance token BTT, also known as BTTOLD on TRON Protocol was granted statutory status as authorized digital currency and medium of exchange in the Commonwealth of Dominica on October 7th 2022.Website | Telegram | Medium | Github | DocsAbout Huobi VenturesHuobi Ventures, the global investment arm of Huobi, integrates investment, incubation, and research to identify the best and brightest teams in the world.As a 10 year pioneer in the industry, we explore, unveil and assist the industry's cutting-edge technologies and emerging business models, providing financing, resources and advisory to projects to grow the blockchain ecosystem together.ContactHayward [email protected]

[PRESS RELEASE – Geneva, Switzerland, July 4th, 2023] Today, the TRON ecosystem welcomes its first Real World Asset (RWA) product, stUSDT, which is operating through the decentralized platform JustLend. TRON founder and member of Huobi’s global advisory board, Justin Sun, has voiced his belief that stUSDT will evolve into the crypto version of Alipay’s Yu’e […]

TUSD trades at a discount versus Tether as former FTX provider Armanino's rebranded outlet The Network Firm's association with TrueUSD raises alarm bells on Crypto Twitter.

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Binance crypto wallets hold some 90% of TUSD’s $3.1 billion market cap, according to blockchain data by Arkham Intelligence.