Merchants Take $4M Brief Place On TrueUSD As Issuer Stops Minting And Redeeming


Following TrustToken’s choice to briefly droop the issuance and redemption of the TrueUSD() stablecoin by its banking companion Prime Belief, one dealer took benefit of the state of affairs to provoke an on-chain brief place.

Based on on-chain knowledge, customers are used Deposited 7.5 million on Aave’s v2 lending platform (USDC) as collateral. They then borrowed his 4 million TUSD and instantly offered it to USDC. This technique of borrowing and promoting shortly is usually used to ascertain a brief place on a selected asset.

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