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Justin Sun bailed out $500M stablecoin TUSD, report Court filings in Hong Kong and reporting from CoinDesk have revealed that Techteryx, the firm behind TrueUSD, required a loan from Justin Sun after its reserves became stuck in First Digital Trust and it became effectively insolvent, unable to redeem its tokens.  This runs contrary to certain public claims by TrueUSD that during the period in question, it continued to claim that it was backed “1:1” by US dollars — even after it started having redemption issues with First Digital. These claims relate to TrueUSD’s relationship with First Digital Trust, which was its primary asset manager.  TrueUSD trusted First Digital to manage its reserve, and First Digital Trust invested in trade finance on its behalf. TrueUSD has since alleged that it was unable to redeem those funds and that First Digital directed some assets to another firm, “Glass Door,” apparently without permission f...

Author | defioasis On February 6th, Berachain officially announced the launch of its mainnet, the release of the BERA token, and a community airdrop. The airdrop covered a wide range of participants, including testnet users, Boyco TVL depositors, as well as RFB contributors representing the community and social media influencers. The key distinction between Berachain and other public chains lies in its adoption of the POL (Proof of Liquidity) mechanism, which is beneficial to the DeFi ecosystem, with Boyco Markets providing the foundation for POL's liquidity guidance. Currently the Berachain Boyco Markets Pre-deposit TVL is over $2.3 billion with a total of about 155,000 depositors, with ether fi Pre-deposit amounting to $675 million, StakeStone $463 million, CIAN $366 million, Lombard $353 million, Solv $282 million and Ethena $138 million, among others. （Data Source: https://dune.com/thj/boyco-markets ） Triple-Token Model: BERA, BGT, and the Stablecoin HONEY ① BERA — The Circulat...

According to the data provided by Token Unlocks, the market for cryptocurrency tokens saw a substantial injection of liquidity this past week that amounted to more than $83.38 million. The liquidity was divided over the following projects: SUI, OP, YGG, AGIX, ACA, GAL, and 1INCH. Unlocking a certain part of the total supply of tokens was a need for each one, and this requirement contributed to the volume as a whole. This week's cliff unlocks are over $83.38 m Highlight are $SUI & $OP$SUI 11.6% – $44.4 m $OP 3.8% – $31.9 m $YGG 3.9% – $2.8 m$AGIX 0.8% – $2.4 m$ACA 4.3% – $1.2 m$GAL 1.3% – $0.7 m#1INCH 0.01% – 20.6 k ( % Cir. supply ) Link ️ : https://t.co/8XoTR8tBPT pic.twitter.com/qX1L2uapvM — Token Unlocks (@Token_Unlocks) June 26, 2023 SUI, a layer 1 blockchain smart contract system, is one of the projects that has distributed tokens worth $44.4 million. This represents 11.6% of the total amount of tokens that are in circ...