Curve is considering removing TUSD as crvUSDCollateral due to concerns over SEC allegations

DailyNews
CRV2,09%
TUSD0,01%
CRVUSD-0,2%
TRU1,19%

Golden Finance reported that Curve Finance is considering removing TrueUSD (TUSD) as the Collateral for its stablecoin crvUSD, due to the U.S. Securities and Exchange Commission (SEC) filing securities law violations against TrueCoin and TrustToken. The allegations claim that 99% of TUSD’s reserve funds are invested in high-risk offshore funds, raising concerns about its safety and solvency. A proposal was put forward in the Curve governance forum to reduce the collateral limit of crvUSD on TUSD to zero and to decrease its association with PayPal Stable Coin PYUSD in order to mitigate related risks. Currently, the main Collateral for crvUSD includes Ethereum (ETH) and Wrapped Bitcoin (WBTC).

View Original
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to Disclaimer.
Comment
0/400
GeneticallyModifiedSucvip
· 2024-09-25 22:37
All in All in 🙌
View OriginalReply0
Trade Crypto Anywhere Anytime
qrCode
Scan to download Gate App
Community
  • 简体中文
  • English
  • Tiếng Việt
  • 繁體中文
  • Español
  • Русский
  • Français (Afrique)
  • Português (Portugal)
  • Bahasa Indonesia
  • 日本語
  • بالعربية
  • Українська
  • Português (Brasil)