TrueUSD

TrueUSD was once among the larger dollar stablecoins, marketed on the promise of daily attested, fully reserved backing, but its recent story is a warning about what backing means. Now issued by Techteryx, the token was engulfed in a dispute in which roughly 456 million dollars of its reserves were allegedly diverted by the fiduciary First Digital Trust into illiquid ventures, leaving a shortfall that Justin Sun says he covered with a large emergency injection to keep the peg intact. On paper the redemption right is strong: verified customers can mint and redeem TUSD for dollars at par through the TrueUSD app after clearing KYC. In practice, holders learned that a first-party attestation is only as good as the custodian behind it. The token still trades across many networks, from Ethereum and Tron to BNB Chain and Avalanche, and remains unregulated, with no government insurance behind its reserves.