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Breaking Stablecoin TrueUSD Struggles: Depeg Causes Turmoil in Crypto Market

1 min
Updated by Ali M.
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In Brief

  • TrueUSD (TUSD), a stablecoin, has surprisingly deviated from its US Dollar peg, causing a stir in the crypto market.
  • The unexpected drop in TUSD value to $0.9951 has challenged the established stability of stablecoins.
  • Following the value dip, TrueUSD announced a pause in TUSD mints via Prime Trust, raising further questions about its stability.
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In a surprising turn of events, TrueUSD (TUSD), a staple in the stablecoin market, has deviated from its peg to the US Dollar.

Historically, stablecoins like TUSD have been pivotal in facilitating cryptocurrency trade due to their inherent stability, pegged to traditional assets. However, TUSD’s recent fall to $0.9951 has unsettled this assumption, thus wreaking havoc in the crypto market.

Stablecoin TrueUSD Loses Peg
Stablecoin TrueUSD Loses Peg. Source: CoinGecko

The sudden dip in value was followed by an announcement from TrueUSD stating that TUSD mints via Prime Trust, Prime Trust, a crypto custody specialist regulated in the state of Nevada, are “paused for further notification.”

“TUSD minting and redemption services remain unaffected and will continue to operate as usual. We want to assure you that our partnerships with other banking institutions remain intact, allowing for seamless transactions,” reads the statement.

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This unexpected move has raised questions about the stability of stablecoins, given their crucial role in the overall crypto ecosystem.

This is a developing story…


In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content.

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