True USD (TUSD) stands strong amidst Prime Trust turmoil, assuring users of uninterrupted operations, while some concerns arise regarding redemptions and transparency.
from the Nevada Department of Business and Industry, Prime Trust faced a shortfall in customer funds.
It resulted in the inability to fulfill all withdrawal requests this month. The report further highlighted the significant deterioration of Prime Trust’s overall financial condition to a critically deficient level. Despite these circumstances, TUSD consistently reiterated through multiple posts that it continued to operate without disruption. However, some users raised concerns, particularly concerning an email allegedly sent to some users.Contrary to the statements made by TUSD, some users held a different perspective on the current state of affairs surrounding the stablecoin, considering the recent developments.
, the team reportedly sent emails to its customers, informing them that the redemption of TUSD was temporarily suspended due to the Prime Trust event.provided evidence indicating that when a redemption request was submitted, the stablecoin was being reminted instead. These instances raised doubts and skepticism among some users regarding the stability and transparency of TUSD in light of the ongoing situation.netflow on CryptoQuant revealed encouraging signs of normalcy.
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