Plain English
TrueUSD (TUSD) is a USD-backed stablecoin originally launched in 2018 by TrustToken. Ownership transferred to Asian holders in 2022. Heavily promoted by Binance after BUSD discontinuation. Reserves attestation has had multiple gaps in the public record.
How it actually works
1:1 backed by USD held with multiple custodians. Real-time attestation via Chainlink Proof of Reserves. Has been operated under significant promotion from Binance and FDUSD competition. Multiple depeg events of 1-2% have occurred during stress periods.
What it means for you
TUSD has lost market share since the BUSD wind-down and operates with less transparent ownership than USDC/USDT. For HNW users, the reasonable approach is to focus stablecoin holdings in USDC, USDT, DAI/USDS, and PYUSD rather than smaller alternatives. TUSD has utility for Binance traders specifically but limited broader use case.
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Educational content only. Not investment, tax, or legal advice.