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Earlier, the developers of TrueUSD stopped issuing their tokens through Prime Trust custodial service. After that the TUSD exchange rate even declined for a short period of time to $0.996, but then the peg came back. Nevada regulators later issued an order suspending Prime Trust.
One Aave user seems to believe that the stabelcoin will lose its peg on a massive scale in the near future. To open a short position, the user made a deposit of 7.5 million USDC to provide on the Aave V2 platform. Then borrowed 4 million TUSD and instantly sold them in exchange for USDC. This is a standard tactic for opening “short” positions in DeFi protocols.
The developers of TrueUSD have previously said that they do not own any Prime Trust assets and are not affiliated with this custodial service, and other services are used to issue and burn steiblocks.
It should be noted that TrueUSD remains the fifth most capitalized stabelcoin. At the time of publication, the figure is $3.1 billion, and the rate has fluctuated around $1.
Recall that in March, the largest exchange Binance transferred its own Binance USD stabelcoins, which were stored in the user asset protection fund (SAFU), into tokens of competitors TrueUSD and Tether.
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