TRU or TRUfi Chart predictionTRU is in a multi-month support zone. You can buy more TRU at $0.077.
Hold term - Long Term.
Future Potential: TRUFi's decentralized finance (DeFi) platform enables efficient and transparent borrowing and lending. As the DeFi ecosystem grows, TRU could play a crucial role in addressing liquidity issues and offering financial services to the unbanked.
Latest News: TRUFi Partners with Major Financial Institution for Increased Liquidity
The SEC alleges that nearly half a billion dollars in TrueUSD (TUSD) is not properly backed, affecting pairs on major exchanges like Binance, Bybit, Gate.io, and Bitget.
TrueUSD is accused of using phony attestation reports, having opaque ownership structures, and secretly investing backing assets in risky, illiquid ventures.
The SEC's complaint suggests that since March 2020, TrueUSD's "commodity fund" misappropriated user funds, with 99% of TUSD's backing assets being illiquid as of this month.
Major investors like a16z, BlockTower, and Alameda Research invested $12.5 million in TrueUSD's governance token, TRU, despite the alleged misappropriation.
Binance listed TrueUSD and later made it the only stablecoin with fee-free trading, leading to $1.5 billion in TUSD mints, which the SEC claims were never fully backed.
The article emphasizes the need for radical transparency in the crypto industry to prevent fraud and suggests continuous scrutiny of major projects to avoid reliance on regulatory bodies like the SEC for cleanup.
