The recent depeg comes after a halt on TUSD minting via Prime Trust. Over the past 12 months, the stablecoin has repeatedly lost its USD peg.
Thanks for your understanding and we are sorry for any inconvenience. Please contact [email protected] for any further questions.The recent depeg comes on the heels of an announcement from TrueUSD team, reporting that minting of TUSD via Prime Trust was paused until further notice. TUSD minting and redemption services via other banking partners remains unaffected.
It's unclear if the halt in minting is related to recent rumors of insolvency surrounding Prime Trust. The company, a fintech infrastructure provider based in Nevada,
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