Topic: TrueUSD (TUSD) Next stablecoin to depeg? - page 2. (Read 241 times)

I don't think its the reason for depeg. Binance is not directly linked to tusd (like it was to BUSD), from what I know all they did, that might point at potential partnership is fee reduction while trading on BTC/TUSD and TUSD staking in lauchpools. But it seems to me more like a desperate attempt to move the volume from USDT to avoid a situation where the entire market (and thus binance's business) depended on 1 stablecoin rather than proof that they are connected

And as for trying to keep BNB above $200, binance is burning $600M in BNB every quarter, which is 7% per year. And its only a 20% of their profits which they claim are mostly in BNB. Binance officially gave up the rigid 20% it guaranteed during ICO, but when I talked to a binance employee from the Polish telegram, he said it was due to the legal problems that such a fixed target caused, and 20% is the value they try to stick to. So from pure profit they can buy all existing BNB @200$ in 3 years so I don't see a reason why should they protect 200$. its not a highly indebted company that needs additional financing by issuing new shares at the best price. Its not a shilled shitcoin like luna that will collapse if price drops.

Also there is no increased volatility on BNB today. it's pretty much flat for last 2 weeks.

So far, it seems that TUSD has been stabilized, as it has almost returned to the levels of ~ one dollar, but as it is linked to binance, I think that the reason is binance’ attempt to keep its BNB currency, and therefore binance resorted to selling Bitcoin and all stablecoins in exchange for keeping BNB above 200 USD.

In general, there is no smoke without fire, if you have any stablecoin, especially TrueUSD (TUSD), now may be a good time to sell.

What I think is that anything that would affect TrueUSD to be deppeged would have first affected the coin marketcap. TUSD marketcap may not be growing like those of USDT and USDC, but the marketcap is still growing and not falling. All you said about it is true, but I do not think this is related to what could lead to the coin to be depegged because its marketcap is not affected and nothing heard yet that can decrease the marketcap to the point of affecting the coin price.

I think 0.9975 is meaningless but stable coins in general are possessing a very serious threat to the business. Especially tether is a ticking bomb. We don’t know when will it go down but it will go down sometime in the future that’s for sure. The best thing we can do to protect ourselves from such a catastrophe is to hold real crypto currencies like bitcoin, eth, ltc… and we should hold the private keys of these funds. That’s because when a stable coin goes down, some exchanges will go down with them. (And with their customer’s funds) I cannot take that risk, nobody should.

Will tusd go down anytime soon? I don’t know. However I know that I don’t want to hold it for a long time. Not worth the risk.

Someone like me don't really make ise of any other coin aside USDT, just because I've checked and see the rate for its adopt is more widely acceptable than any other due to it application and trust people have in using it, we havebto go for standards in some conditions than making no research about some investment we made, it's quite enough to always avoid being a victim of all these low reputable currencies.

This is worrying, technically since the bear market seems to be over I hoped for stable coins to stop giving us such nasty surprises, the last time this happened I did not really expected for a depeg to happen and yet it did, so anyone holding this coin should be incredibly careful as they could lose a lot of money in a short amount of time if such an event were to happen, and if it did I wonder who in his right mind will keep holding stable coins? As they are proving they are anything but stable.

According to their webside, they have generated 3.139 billion stablecoins (liabilities) and thay have 3.146 billion dollars (collateral), so they have a surplus of 7 million dollars. Everything looks good, if not the fact that the "Independent Accountant's Report" is signed by "The Network Firm LLP", about which you can't find much on the Internet. Do you know anything about them?

I didn't have a lot of TUSD, but I converted them today (thanks to OP) before the possible FUD kicks in (if it does). depeg is now at 0.05% so its not much for safety of funds - later it may be worse.

This instability might be due to the conversion of OLD TUSD to NEW TUSD which is supported by Binance as you said TUSD is now propped by Binance. (source). Or maybe there could be another reason behind it. But I found only this.

To what extent it could impact the market, as there is other news in the market that will disappear this news in some pile of news? Or is there any catch in this news that i am not able to understand then please help me i am all ears.

Looks like there might be another depegging going on. Apparently the company who is in charge of TUSD has gone in receivership. And there is speculation that TUSD is insolvent.

Word is out that it’s being propped by Binance and will soon depeg. Apparently you can’t redeem TUSD anymore. Someone tried to redeem for USD and got sent USDT instead. Currently it’s popular on Binance due to 0 fees and much of this stablecoin is locked up.

However if you look at the curve stats you can see that something like 70% is of the TUSD stablecoin. Also looks like a slight depeg just started at 0.9975