TrueUSD (TUSD) Depegs, Rises To 70% On Curve Pool After Prime Trust Disaster
TUSD stablecoin fell to 0.9974 against Tether (USDT) on Binance and 0.80 on Binance .US amid exposure to Prime Trust. Maverick Protocol ( MAV) launchpool on Binance starting to withdraw TUSD . Moreover, reserves on Curve pool has imbalanced further, rising more than 70%. The TUSD deposit and loan interest rates in Aave V2 soared, with the deposit interest rate reaching 42% and loan interest rate reaching 54%. advertisement Source: PeckShieldAlert As a result, whales and investors are taking arbitrage opportunities to swap TUSD for USDC and other stablecoins. TUSD has $20 million in plunge protection buys down to $0.997, but $21 million would take it down to $0.70 on Binance. Notable crypto experts including Adam Cochran, The Wolf Of All Streets, and Parrot Capital took to Twitter to warn about TUSD depeg risks. Moreover, TUSD reserves attestation was provided by The Network Firm (formerly Armanino), the same audit firm that was in charge of FTX.US audit...