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Curve Considers Removing TUSD from crvUSD Collateral Amid SEC Scrutiny

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  • TruеCoin, TUSD’s issuеr, fаcеs SEC аllеgаtions of frаudulеnt аnd unrеgistеrеd sаlеs, rаising concеrns аbout its solvеncy аnd rеgulаtory compliаncе.
  • Curvе Finаncе’s crvUSD stаblеcoin is ovеrеxposеd to TUSD, а significаnt portion of its collаtеrаl bаcking, rаising concеrns following thе SEC chаrgеs.
  • Wormholе proposеs rеducing аnd еvеntuаlly еliminаting TUSD’s bаcking for crvUSD to mitigаtе rеgulаtory risks аnd potеntiаl solvеncy issuеs.

Curvе Finаncе, а prominеnt dеcеntrаlizеd еxchаngе (DEX) rеcognizеd for its еfficiеnt stаblеcoin trаding, is fаcing а possiblе disruption in thе collаtеrаl supporting its crvUSD stаblеcoin. Thе situаtion stеms from rеcеnt аctions tаkеn by thе U.S. Sеcuritiеs аnd Exchаngе Commission (SEC) аgаinst TruеUSD (TUSD), onе of thе аssеts usеd аs collаtеrаl for crеаting crvUSD.

On Sеptеmbеr 24th, thе SEC sеttlеd with TruеCoin, thе issuеr of TUSD, which rаisеd concеrns аbout thе stаbility of stаblеcoin. Thе SEC аllеgеd thаt TruеCoin аnd its pаrеnt compаny TrustTokеn wеrе involvеd in frаudulеnt аnd unаuthorizеd sаlеs of invеstmеnt contrаcts linkеd to TruеUSD.

Notаbly, thе rеgulаtor’s complаint clаims thаt TruеCoin fаlsеly rеprеsеntеd thаt TUSD wаs fully bаckеd by U.S. dollаrs or еquivаlеnt аssеts. Howеvеr, а substаntiаl pаrt (rеportеdly 99%) of its rеsеrvеs wаs invеstеd in а risky offshorе fund. This hаs spаrkеd doubts аbout thе coin’s truе vаluе.

Wormhole Proposes Zero TUSD Backing

This dеvеlopmеnt hаs rаisеd concеrns аmong mеmbеrs of thе Curvе community. On Sеptеmbеr 25th, а proposаl аppеаrеd on Curvе’s govеrnаncе forum from Wormholе, а cross-chаin mеssаging protocol, suggesting lowering the upper limit of crvUSD’s backing to zero to eliminate exposure to TUSD, addressing both regulatory risks and concerns regarding solvency.

Currеntly, thе PеgKееpеr systеm—thе mеchаnism mаnаging crvUSD’s liquidity pools—аllows usеrs to mint up to $10 million worth of crvUSD using TUSD. Wormholе’s proposаl proposеs еliminаting this option еntirеly.

Thе impаct of thе current situаtion еxtеnds bеyond just onе stаblеcoin. Thе proposаl аlso suggеsts lowеring thе crvUSD dеbt cеiling for PаyPаl’s stаblеcoin (PYUSD) from $15 million to $5 million. This chаngе highlights thе incrеаsеd PеgKееpеr cеiling to TVL (Totаl Vаluе Lockеd) rаtio for both PYUSD аnd TUSD, аs wеll аs thеir stаgnаnt TVL growth.

Curve Finance 1
Source: Curve.fi

Whilе crvUSD offеrs usеrs thе flеxibility to mint thе stаblеcoin using vаrious cryptocurrеnciеs аs collаtеrаl, thе currеnt composition rаisеs concеrns аbout divеrsificаtion. Wrаppеd Bitcoin (WBTC) currеntly holds thе dominаnt position, аccounting for ovеr $68 million in TVL, followеd by Lido Finаncе’s wstETH (liquid stаking dеrivаtivе) аt аround $60 million.

Thе proposаl highlights this lаck of divеrsificаtion, stаting, “crvUSD is ovеrеxposеd to minor stаblеcoins, еspеciаlly TUSD which hаs а dubious trаck rеcord аnd hаs rеcеntly bееn chаrgеd by thе SEC with dеfrаuding invеstors.” It еmphаsizеs thе nееd for а morе robust аnd divеrsе sеt of PеgKееpеrs but аcknowlеdgеs thаt this is а sеpаrаtе discussion.

Thе community votе on thе proposаl will dеtеrminе crvUSD’s futurе composition. A dеcisivе movе аwаy from TruеUSD could solidify Curvе’s commitmеnt to usеr trust аnd rеgulаtory compliаncе. Howеvеr, it аlso nеcеssitаtеs а rеаssеssmеnt of thе idеаl bаlаncе bеtwееn stаblеcoin divеrsity аnd individuаl collаtеrаl risk profilеs within thе PеgKееpеr systеm. Curvе fаcеs а cruciаl dеcision thаt will impаct thе stаbility аnd risk profilе of its flаgship stаblеcoin, crvUSD.

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Stablecoin Surge: $150B Market Cap Signals Growth Spurt

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The idea behind “stablecoin” seems simple, it’s digital money with a fixed value. But this idea has been called into question by recent comments made by Adrian Orr, the governor of New Zealand’s central bank, who described it as inconsistent. As per the parliamentary session reported by Bloomberg, Orr opined that stablecoins are intrinsically unstable since their legitimacy is solely dependent on the reliability of the organization that supports them.

Orr emphasized that this sense of stability is deceptive, grounded more in perception than in actual financial circumstances. He said,

“Stablecoins are the biggest misnomers and oxymorons. They’re only as good as the balance sheet of the person offering that stablecoin.”

Orr has good reason to be cautious. The financial soundness of the organization that is issuing these coins has a significant impact on their stability. Examples of this vulnerability include the inability of TrueUSD (TUSD) and USDC to sustain their pegs as a result of concerns about their capacity to fund stablecoins with fiat currency reserves.

TrueUSD, for example, saw its value fall below the $1 peg due to doubts about its capacity to redeem its stablecoins. In a similar vein, USDC dropped to about 95 cents on the dollar after it was discovered that a failing financial institution was holding large reserves. These incidents highlight the vulnerability of cryptocurrencies and the dangers associated with their reliance on centralized organizations.

On the other hand, the stability of conventional fiat currencies, such as the New Zealand dollar, is derived from parliamentary authority and supervision by autonomous central banks. To inspire trust in consumers and investors, these organizations work hard to keep inflation rates steady and low.

Recognizing the growing concerns over stablecoins, multiple sectors—including academia and the Federal Reserve—are working together to create mechanisms that guarantee their stability. Howard Lutnick, the CEO of Cantor Fitzgerald, whose company manages funds connected to Tether, a well-known token issuer, has shown confidence in Tether’s reserves and confirmed that they are in control of the assets they assert.

Stablecoin Market Expansion

The stablecoin market is growing, which means that more coins are getting into circulation. According to recent data, Tether (USDT) continues to lead its competitors in this space, holding a market share of over 60%. USD Coin (USDC) and Binance USD (BUSD) follow.

Furthermore, stablecoin trade volume has grown; daily average transaction volumes have reached $200 billion in recent months. This growing pattern shows how Bitcoin is being used more and more in a number of industries, such as trade, remittances, and applications related to decentralized finance (DeFi). Due to the growing demand for digital assets with stable prices, expectations for the cryptocurrency market are rising despite recurring worries about the stability and transparency of some coin issuers.

TUSD Tanks: Stablecoin Crashes 5% After Launchpool Snub

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TrueUSD (TUSD), a stablecoin linked to the US dollar, took a hit on January 15th, plummeting below its $1 peg for the first time in history. Reports of mass withdrawals, technical issues, and potential undercollateralization swirled around the event, leaving investors wary and the future of the stablecoin uncertain.

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Source: Chainlink

The downward spiral began around 11 AM UTC, with TUSD dropping as low as $0.984 by 11:15 PM. At the time of writing, it clings to a fragile $0.988, still 1.3% shy of its intended price. This depeg coincided with a surge in selling pressure on Binance, the leading crypto exchange. Over $339 million worth of the stablecoin exchanged hands in the past 24 hours, with buy orders lagging behind by $42.3 million, signaling a substantial outflow.

TUSD Reserves on Fire: Real-Time Woes Spark Panic

Adding fuel to the fire were reports of TUSD struggling to maintain real-time attestations of its reserves. A January 10th Protos report highlighted API malfunctions preventing the system from accurately displaying the dollar value of the stablecoin’s backing assets. This raised concerns about potential undercollateralization, leaving investors questioning the stability of the stablecoin.

The seeds of doubt were sown even earlier, in December, when pseudonymous X user Rho Rider discovered a potential arbitrage opportunity on Poloniex. TUSD traded at a significant discount – a staggering 8% below its peg at $0.92 – while maintaining a steadier $0.99 on Binance. However, Rho noted the anomaly could be explained by a lack of withdrawal and deposit functionality for the stablecoin on Poloniex, effectively trapping the asset and hindering arbitrage. User reports in the Poloniex Telegram group confirmed ongoing withdrawal issues, further fueling anxiety among TUSD holders.

Furthermore, speculation on Crypto X linked the sell-off to TUSD’s exclusion from Binance’s Manta (MANTA) launch pool initiative. This fueled whispers of preferential treatment for other stablecoins and potentially eroded confidence in TUSD’s legitimacy.

TrueUSD and Poloniex remain tight-lipped, leaving a cloud of uncertainty hanging over the situation. Whether the stablecoin can regain its peg and restore investor trust hinges on addressing the technical issues, ensuring transparency about its reserves, and regaining the confidence of its user base. Only time will tell if TUSD can weather this storm and reclaim its place as a reliable dollar-backed stablecoin.

TrueCoin Uncovers Breach Vulnerability: TUSD Users on Edge

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In a shocking turn of events, TrueCoin has found itself at the center of a data breach scare, sending ripples of concern throughout the cryptocurrency community. TrueUSD (TUSD), the stablecoin managed by TrueCoin, recently disclosed a potential breach involving Know Your Customer (KYC) and transaction history data, which could have far-reaching consequences for its users.

TrueCoin’s Ironclad Defense Thwarts TUSD Data Threat

The breach was traced back to a third-party vendor, who alerted TrueCoin’s security team about an unusual account activity within their organization. This anomaly immediately raised suspicions about the security of TUSD’s customer data. Fortunately, TrueCoin’s internal systems remained unscathed, reassuring users that the stablecoin’s core infrastructure was intact.

In a reassuring statement, TrueUSD underscored the resilience of its system, emphasizing that the breach was confined to a third-party vendor. “TUSD system is SECURE and not attacked. Both TUSD system and TUSD’s reserves are UNAFFECTED,” TrueUSD affirmed through its official social media channels.

TrueCoin’s Vulnerable Data: Investors at Risk

The compromised data reportedly included sensitive information like names, email addresses, and phone numbers, which could potentially be exploited by cybercriminals for phishing attacks. Such attacks often involve tricking unsuspecting investors by impersonating legitimate cryptocurrency services, promising extravagant profits within a short timeframe.

The full extent of the breach is yet to be determined, as TrueCoin has refrained from disclosing the total number of users affected by the data leak. The uncertainty surrounding the scale and potential impact of this breach has left TrueUSD users on edge, urging them to remain vigilant and take precautionary measures to safeguard their personal information.

As the cryptocurrency space continues to grapple with security challenges, incidents like this underscore the critical need for robust data protection measures and vigilance against cyber threats. TrueCoin’s swift response to the breach serves as a reminder of the importance of maintaining trust and transparency in the world of digital assets. Only time will reveal the full consequences of this breach, and users are advised to stay informed and exercise caution in their cryptocurrency transactions.

Terraform’s Bold Accusation: Citadel’s $0.02 TerraUSD Depeg Conspiracy Unveiled

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Terraform Labs, the blockchain company founded by Do Kwon, has once again pointed fingers at Citadel Securities, a major market maker, for its alleged role in the intentional depegging of TerraUSD (UST) stablecoin in May 2022. Terraform Labs recently filed a motion in the United States District Court in the Southern District of Florida, demanding that Citadel Securities produce documents related to their trading actions during the destabilization of TerraUSD.

The May 2022 depeg incident saw TerraUSD plummet from $1 to a mere $0.02, leaving many investors and market participants bewildered. Terraform Labs contends that this drastic depeg was not due to any inherent instability in TerraUSD’s algorithm, as originally thought. Instead, they argue that it was the result of a coordinated effort by certain third-party market participants to short the stablecoin, causing it to depeg from its $1 value.

Screenshot 70
Source: CourtListener

The motion further highlights “publicly available evidence” suggesting that Ken Griffin, the head of Citadel Securities, intended to short TerraUSD around the time of the depeg. This evidence includes a Discord chat screenshot in which a pseudonymous trader claimed Griffin discussed “Soros-ing” Luna UST, possibly alluding to George Soros’ trading strategies focused on highly leveraged, one-way bets.

However, Citadel Securities has previously denied involvement in trading TerraUSD during the critical period in May 2022, according to Forbes.

Terraform’s Defense: Vital Trading Documents at Stake

Terraform Labs asserts that these trading documents are essential for its defense against a lawsuit filed by the U.S. Securities and Exchange Commission in February. The lawsuit accuses Terraform Labs and Do Kwon of orchestrating a multi-billion-dollar crypto asset securities fraud. The company emphasizes that their defense would be significantly compromised if Citadel Securities successfully withholds the requested information.

Should the court decline to compel Citadel Securities to produce the trading documents, Terraform Labs has requested the matter be transferred to the U.S. District Court for the Southern District of New York for a decision by Judge Rakoff.

In a bid to strengthen their defense, Terraform Labs had previously sought permission from a judge to subpoena data from the now-bankrupt crypto exchange FTX, suggesting that this information could also play a crucial role in their legal battle.

The ongoing legal dispute between Terraform Labs and Citadel Securities sheds light on the complexities of the crypto market and the regulatory challenges faced by participants in the digital asset space. As the case unfolds, it will be interesting to see how the court navigates the intricacies of the TerraUSD depeg and the potential involvement of market players in its destabilization.

TUSD’s Massive Minting: Justin Sun’s Cryptocurrency Shockwave!

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In a surprising turn of events, cryptocurrency mogul Justin Sun made headlines today as his related address minted a staggering 815 million TUSD tokens. This unexpected development has left the crypto community speculating about the motives and implications of this significant transaction.

The intrigue deepened as it was revealed that the newly minted TUSD tokens were swiftly replaced by WSTUSDT, a lesser-known cryptocurrency, and deposited into JustLend. JustLend, a decentralized lending platform, has seen a remarkable surge in Total Value Locked (TVL), which has surged by an impressive 21.5% in the past 24 hours.

Justin Sun, founder of the cryptocurrency platform HTX, was quick to address the situation. He claimed that the transactions were purely his personal financial moves and had nothing to do with HTX’s business operations. Sun emphasized that these transactions were part of his diversification strategy and were unrelated to any business dealings within HTX.

JustLend’s Rising Role: TUSD’s Connection Revealed

One theory suggests that Sun may be exploring new investment opportunities in the crypto space. By converting TUSD into WSTUSDT and depositing it into JustLend, he may be looking to capitalize on the platform’s rising TVL and potentially earn higher returns. This move could indicate Sun’s confidence in the DeFi (Decentralized Finance) sector, which has been gaining significant traction in recent years.

However, skeptics remain cautious, considering the volatility and unpredictability of the cryptocurrency market. Some wonder if there is more to this story than meets the eye, especially given the magnitude of the transaction.

As the crypto community continues to dissect Justin Sun’s recent move, one thing is clear: the world of digital currencies is full of surprises and intrigue. Whether this transaction proves to be a strategic financial maneuver or merely a blip on the crypto radar remains to be seen. Only time will tell how these 815 million TUSD tokens, now converted into WSTUSDT and deposited into JustLend, will ultimately impact the cryptocurrency landscape.

In the fast-paced world of digital assets, Justin Sun’s actions serve as a reminder that the crypto market is never short on excitement and speculation. Investors and enthusiasts alike will be closely watching to see how this story unfolds and what it might mean for the future of cryptocurrency.

Tether’s Tightrope: Stablecoin Holders Stay Put Amidst Market Turmoil

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In the ever-growing landscape of cryptocurrencies, a curious trend has caught the attention of analysts and investors alike. Santiment, a prominent analytics firm, recently tweeted about the behavior of active dolphin and shark wallets containing Tether and USDCoin, the two most popular stablecoins in the market. The firm observed a notable lack of conversion attempts into other crypto assets among these stablecoin holders.

Santiment’s keen insight report, titled “Stablecoin Reactions to Market Shifts: a User Behavior Indicator,” dives deep into the activity of a specific subset of stablecoin holders – those maintaining balances ranging from $10,000 to $100,000. 

Often referred to as “dolphins” or “sharks,” these users have remained reluctant to shift their stablecoins into other assets over the past week. Such behavior, interpreted positively, suggests market stability, but further investigation is needed to draw concrete conclusions.

image 91

The burning question remains: will these “dolphin” and “shark” holders view the current fallen prices as an opportunity to “buy the dip,” or will they err on the side of caution and “abandon ship” in the face of growing market uncertainty? 

However, seasoned investors know that basing decisions on a single parameter can be risky, as market trends are multifaceted. Santiment emphasizes considering diverse indicators and parameters for a comprehensive investment strategy.

Tether’s Rising Market Cap Despite Lackluster Volume

Meanwhile, Kaiko, a research firm, released its report on the market performance. Surprisingly, Tether’s market cap continued to rise, reaching an all-time high of over $83 billion in early June. 

image 92

The increase in USDT issuance was largely attributed to rising demand for Tron, which offers lower fees than Ethereum. However, it is puzzling that over 60% of USDT’s supply is on Tron, with less than 40% on Ethereum, despite the latter’s dominance in on-chain crypto activity.

Interestingly, while Tether’s market cap increased significantly, stablecoin’s total market capitalization declined for the fifth consecutive quarter in Q2. BUSD and USDC were the primary drivers of this decline. 

Additionally, stablecoin trading activity on both CEXs and DEXs remained lackluster during the past few months, with only TUSD bucking the trend. Binance’s zero-fee trading promotions for several TUSD pairs caused a volume surge, but the collapse of technology partner Prime Trust later affected its market share.

Related Reading | Surging Altcoin Dominance Shakes Crypto Market Amidst Ripple Ruling Fallout

TRON Founder Justin Sun Reacts To His “Secret Deal” With TUSD

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Justin Sun, the founder of the TRON blockchain, faces an uphill task after Archblock founder filed a lawsuit alleging that the crypto entrepreneur purchased TUSD stablecoin via illegal means. According to the filing, Sun clandestinely executed the acquisition by employing a range of entities and individuals while remaining anonymous.

Below are the screenshots shared by a Twitter user showing Sun’s insistence on maintaining the secrecy of any acquisition.

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TRON Founder Justin Sun Reacts To His "Secret Deal" With TUSD 7

The crypto billionaire reacted to the news in his trademark fashion, using the number “4” that Changpeng Zhao [CZ], CEO of Binance, uses to denote FUD. Given that there have been prior allegations regarding True USD [TUSD] and its dubious connections to the TRON founder, community reactions have mostly been neutral.

Launched in 2018, the price of TUSD, which is intended to stay fixed at 1:1 to the US dollar, did not react significantly. The stablecoin first made headlines on April 30, when Binance announced TUSD staking for Sui Network [SUI] farming.

But things took an odd turn on May 1, when a True USD wallet connected to Sun moved over $56 million worth of TUSD to Binance. CZ swiftly clarified that the TRON founder had been warned not to use any of the transferred funds for the SUI airdrop in order to allay any worries.

In general, TUSD, Huobi, and other Chinese shell businesses’ secrecy caught the attention of on-chain sleuths, as they feared that there was more going on than what was visible to the general public.

TRON Founder and TUSD connection shrewd in mystery

On May 3, an investor at Cinneamhain Ventures, mostly known for his extensive and viral threads on Twitter, Adam Cochran, alleged that Sun had already purchased TUSD.

In his tweet, Cochran revealed the intricate network connecting the stablecoin to Justin Sun, prompting a strong reaction from the TUSD team, which threatened legal action against him for associating them with Sun. The investigation led to the discovery of Techteryx, a mysterious entity whose existence is only confirmed in auditing statements from TUSD.

The most recent lawsuit might be an opportunity for the TUSD team to finally come clean on the raging matter which they have so far chosen to remain silent.

AAVE Community Votes Overwhelmingly To Freeze TUSD Reserve On Aave V2 Ethereum

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In an unprecedented move, the AAVE community is currently engaged in a decisive vote that could have significant implications for users of the Aave V2 Ethereum pool. 

The proposal on the table aims to freeze the reserve of TrueUSD (TUSD), a stablecoin, effectively prohibiting any deposits or borrowing of TUSD on the platform. 

However, it’s important to note that existing positions will remain unaffected, and users will still have the ability to repay and withdraw TUSD. The voting process, which commenced recently, has seen an astonishing 83% of the community expressing their agreement with the freeze. 

This overwhelming support demonstrates the community’s desire to adopt a cautious approach to the TUSD situation and take necessary measures to safeguard its ecosystem.

Protecting the Aave Ecosystem: Motivation Behind the Freeze

The motivation behind this proposal stems from recent events involving the TUSD asset. The Aave Community Initiative (ACI) recognizes the need for a temporary freeze to prevent any potential risks or issues that may arise from TUSD’s usage within the Aave V2 Ethereum pool. 

By imposing this freeze, the community seeks to evaluate the situation thoroughly and gather pertinent information before making any further decisions.

The specifics of the proposal outline a methodological plan to execute the freeze on the TUSD reserve within its V2 Pool Configurator contract. By calling the “freezeReserve” function from the Aave V2 Ethereum Pool Configurator contract, the necessary actions will be taken to halt any future TUSD deposits or borrowings. 

The AaveV2 Freeze Reserves_20230627 contract, which implements the IProposalGenericExecutor interface, will play a crucial role in executing this freeze.

The temporary freeze on the TUSD reserve emphasizes the community’s commitment to the safety and stability of the V2 Ethereum pool. 

While this measure may temporarily inconvenience some users, it underscores the community’s proactive approach to mitigating potential risks and ensuring the long-term viability of the ecosystem.

However, the freeze is not permanent and serves as a means to assess the situation thoroughly. The community will have the opportunity to reevaluate and make informed decisions regarding the future of TUSD on the Aave V2 Ethereum pool once more information becomes available.

With the voting process scheduled to conclude in approximately 14 hours, the AAVE community is anxiously awaiting the final outcome. 

Nevertheless, the overwhelming support for the freeze thus far showcases the community’s active involvement and commitment to shaping the future of Aave and maintaining its position as a leading decentralized finance (DeFi) platform.

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USDT, TUSD, and DJED Holders Moving Capital To Innovative InQubeta Presale

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The dynamics of the crypto market make it a volatile investment option. The DeFi market has witnessed many losses, and investors aim to stay ahead by looking for projects with long-term prospects. The last few months haven’t been favorable for investors in Tether (USDT), TrueUSD (USD), and Djed (DJED) as their prices crashed hard in the bearish run. Investors in these tokens are now moving their capital to new ICOs with an innovative approach to investing.

InQubeta (QUBE) is a unique project that distinguishes itself from the crowded crypto market. The project aims to bridge the gap between the growing artificial intelligence (AI) industry and the decentralized finance market. QUBE has had a remarkable presale rally, having just concluded its presale beta stage with over 65 million tokens sold.

This article will explain how investors are convinced that InQubeta is the best coin because of its innovative and successful presale rally.

InQubeta (QUBE) is a unique introduction that boosts the growth of the AI industry.

InQubeta has generated positive reactions among investors because of its innovative ecosystem. The first crowdfunding platform for AI startups has had an impressive presale rally as investors shift their attention to it. The token just concluded its beta stage and has raised over $400,000. As InQubeta enters Stage 1 of the presale rally, the token’s value is expected to skyrocket.

The QUBE token brings innovation to the DeFi market by leveraging AI and crypto investment. InQubeta’s demand has increased because it allows investors to securely and efficiently engage with potential AI firms. This platform uses a unique fractional investment approach, enabling investors to join based on their financial capacities and making AI investment more accessible to more people. 

QUBE, the native token, provides innovative tokenomics that have grabbed the curiosity of investors. The deflationary ERC-20 token provides a unique investment option for people wishing to diversify their portfolios. Token holders are incentivized to stake their QUBE tokens and collect rewards, creating a long-term investment appeal. As one of the new ICOs, InQubeta has the most sustainable long-term potential. 

Visit InQubeta Presale

Tether (USDT) is the dominant stablecoin in the market.

Tether is the industry’s biggest stablecoin, with a market capitalization of over $83 billion and a daily trading volume of over $35 billion. The token supports multiple blockchains and dApps. Recent market performance has pushed Tether’s investors towards new projects.

USDT is the leading token in the market, and the coin has surged in recent weeks. The stablecoin is experiencing significant dominance in the market. Investors, however, are shifting from USDT to more innovative projects.

TrueUSD (TUSD) is a multichain stablecoin.

TrueUSD is the fifth largest stablecoin, with over $2 billion in market capitalization. The project has caused a stir with its recent decline. TrueUSD is de-pegging, and this is not a good signal for investors.

TUSD is suffering a decline, which is affecting its performance in the market. With the news of the halt in minting, the stablecoin has fallen. Investors hope that TUSD will climb back to the top.

Djed (DJED) is a stablecoin backed by Cardano.

Djed is an over-collateralized stablecoin that is hosted on the Cardano network. The project has grown due to the support of Cardano. As the value of ADA drops, Djed’s price is beginning to crash.

DJED is the native coin of the platform. SHEN guarantees the token, and it transmits algorithms for investors. Due to the market standing of its host blockchain, DJED is beginning to fall in price.

Visit InQubeta Presale 

Final words

The crypto market has witnessed a dip in the value of USDT, TUSD, and DJED, and investors are shifting their focus to QUBE, an innovative AI crypto. QUBE is the best coin because of its exciting roadmap and presale performance. Analysts predict a 3000% increase in value for the coin, and early investors can start investing to receive significant turnarounds in the long run. The Stage 1 presale rally is expected to sell out in less than two weeks, and investors and enthusiasts can use the promo code “BETA5” to get a 5% bonus.

Visit InQubeta Presale 

Keywords: InQubeta, QUBE, Djed, DJED, TrueUSD, TUSD, Tether, USDT, best coin, DeFi market, new ICOs