The issuer of the stablecoin TrueUSD (TUSD) denies any connection to Justin Sun.
It was the company’s response to accusations by popular crypto analyst Adam Cochran. He wrote that Justin Sun secretly bought TrueUSD, but continues to pay ex-owners in the US to manage the project. The blogger also accused TrueUSD of distorting real information about reserves and working with offshore banks:
Well there it is.
Justin Sun’s conglomerate bought TrueUSD but was still paying the initial US owners to administer it.
Then it moves to offshore banks and now control of the private keys are transferred as it grows in market cap with no real proof of backing… https://t.co/Z9OBYXd8Nj
— Adam Cochran (adamscochran.eth) (@adamscochran) May 3, 2023
In his accusations, the analyst refers to a study by the crypto publication Protos. They write that TrueUSD changed ownership in 2020, and the Techteryx conglomerate became the new buyer. This company is registered in Singapore. It officially describes itself as an “Asian consortium that will work with TRON.”
Journalists also cite other facts in favor of Justin Sun controlling TrueUSD. So, on Monday, he transferred 115.1 million TUSD to Binance. And before that, one of the Techteryx sites indicated that Sun was an “Asian market consultant” for TrueUSD.
Source: bitcoinlinux.com
