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TrueUSD's endorsement news causes a negative impact, trading at a disadvantage compared to Tether on Binance.US.

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.

Armanino's digital asset team rebranded itself to The Network Firm, as CoinDesk reported, to continue performing audits and attestations after the collapse of FTX.

The stablecoin issuer said last week that it had “no exposure” to the failed crypto custodian Prime Trust.

TrustToken's recent decision to temporarily suspend mints and redemptions of its stablecoin, TrueUSD (TUSD), through its banking partner, Prime Trust, has created a window of opportunity for astute Ethereum traders to capitalize on the situation. Leveraging on-chain data and the lending platform Aave's v2, one trader strategically utilized their collateral to borrow and sell TUSD, establishing a short position on the asset.

Traders are attempting to short the TUSD stablecoin amidst reports of the stablecoin issuer's connection with crypto custodian Prime Trust. The TrueUSD issuer has stated that it does not have any exposure to Prime Trust, having announced earlier in the month that it had stopped mints and redemptions through the crypto custodian.

The recent surge in Bitcoin's price has captured the crypto community's attention, sparking discussions about the driving forces behind this rally. While theories point to factors like Blackrock's ETF and short squeezes, emerging data suggest that TrueUSD (TUSD), a stablecoin, may have significantly boosted Bitcoin's upward momentum.

Recently, a trader has made a strategic move by opening an on-chain short position on TrueUSD (TUSD), a stablecoin. This decision came after the issuer faced challenges with its banking partner, Prime Trust, which led to the suspension of mints and redemptions.

An Ethereum user used Aave's v2 lending platform by depositing 7.5 million USDC as collateral.

True USD (TUSD) stands strong amidst Prime Trust turmoil, assuring users of uninterrupted operations, while some concerns arise regarding redemptions and transparency.

Recent data suggests TUSD played a role in Bitcoin's rally, as its supply surges align with Bitcoin's price surges.

A trader has opened an on-chain short position on the TUSD stablecoin amid the issuer's links with Prime Trust.

Traders are rushing to short stablecoin TrueUSD.

On June 21, Bitcoin (BTC) surged past the $30,000 mark for the first time in two months, a significant milestone for the volatile cryptocurrency. This rally contributed to an uptick in derivatives trading, increased spot trading, and increased coins withdrawn from exchanges, as identified in a recentCryptoSlate Alpha insight.

The TUSD stablecoins issuer confirmed to the users that it had no exposure to Prime Trust and that all funds are safe.

TrueUSD (TUSD) stated in a June 22 Twitter post that it is not affected by the issues faced by crypto custodial firm Prime Trust.

TrueUSD has swiftly moved to restore confidence in its dollar-backed TUSD stablecoin after Nevada-based Prime Trust, a crucial technology partner, faced regulatory hurdles. Prime Trust's abrupt suspension of all fiat and cryptocurrency deposits and withdrawals, following state financial regulators' orders, left many clients stranded and concerned about their funds.

Stablecoin issuer TrueUSD maintains that it is not affected by the current challenges facing Prime Trust.

Stablecoin project TrueUSD said Thursday it had “no exposure” to embattled crypto services company Prime Trust as it raced to shore up confidence in its dollar-backed TUSD.

Binance has announced a new zero-fee promotion for TrueUSD (TUSD) trading pairs. However, this strategic move, scheduled to commence on June 30, 2023, is predicted to stimulate the crypto-market dynamics by extending its feeless trading opportunity to a wider audience.

Binance is introducing zero maker fees for TUSD spot and margin trading pairs and extending BUSD zero maker fees for another six months.

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

Binance, the world's biggest exchange, has launched a new zero-maker fee offer for TUSD spot and margin trading pairings.

On June 16, TUSD supply surged by 52%! The difficulties the dollar-pegged token economy was facing were recently brought to light when significant redemptions caused its market valuation to drop to a 20-month low.