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⚯ Michel de Cryptadamus ⚯<a href="https://universeodon.com/tags/TrueUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrueUSD</a>, one of the many stablecoins connected to Chinese crypto scammer & Donald Trump business partner <a href="https://universeodon.com/tags/JustinSun" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#JustinSun</a>, received a half billion dollar bailout from... Justin Sun when it couldn't get its capital out of First Digital, another chinese <a href="https://universeodon.com/tags/moneylaundering" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#moneylaundering</a> company that runs a stablecoin <a href="https://universeodon.com/tags/FDUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FDUSD</a> that is used for most trading on <a href="https://universeodon.com/tags/Binance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Binance</a>.> "In September 2024, <a href="https://universeodon.com/tags/TrueCoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrueCoin</a> and <a href="https://universeodon.com/tags/TrustToken" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrustToken</a> (the <a href="https://universeodon.com/tags/stablecoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#stablecoin</a>'s owners before <a href="https://universeodon.com/tags/Techteryx" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Techteryx</a>) settled with the <a href="https://universeodon.com/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SEC</a> over allegations they falsely marketed TrueUSD as fully dollar-backed while secretly investing reserves in risky offshore funds."<a href="https://protos.com/justin-sun-bailed-out-500m-stablecoin-tusd-report/" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://protos.com/justin-sun-bailed-out-500m-stablecoin-tusd-report/</a><a href="https://universeodon.com/tags/corruption" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#corruption</a> <a href="https://universeodon.com/tags/uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspol</a> <a href="https://universeodon.com/tags/asia" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#asia</a> <a href="https://universeodon.com/tags/hongkong" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#hongkong</a> <a href="https://universeodon.com/tags/crime" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#crime</a> <a href="https://universeodon.com/tags/TrueUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrueUSD</a> <a href="https://universeodon.com/tags/WorldLibertyFinancial" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#WorldLibertyFinancial</a> <a href="https://universeodon.com/tags/WLFI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#WLFI</a> <a href="https://universeodon.com/tags/crime" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#crime</a> <a href="https://universeodon.com/tags/Trump" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Trump</a> <a href="https://universeodon.com/tags/TrumpCoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrumpCoin</a> <a href="https://universeodon.com/tags/USD1" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USD1</a> <a href="https://universeodon.com/tags/FirstDigital" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FirstDigital</a>

⚯ Michel de Cryptadamus ⚯American <a href="https://universeodon.com/tags/SEC" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SEC</a> has filed suit against <a href="https://universeodon.com/tags/TrueUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrueUSD</a> / <a href="https://universeodon.com/tags/TrustToken" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrustToken</a> arguing that its reserves consisted of 99% illiquid offshore assets and it became unbacked by actual dollars ca. 2022.While most people outside of <a href="https://universeodon.com/tags/crypto" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#crypto</a> have never heard of TrueUSD's token <a href="https://universeodon.com/tags/TUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TUSD</a> (a competitor to <a href="https://universeodon.com/tags/Tether" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Tether</a>'s <a href="https://universeodon.com/tags/USDT" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#USDT</a>; see my pinned toot) it's worth understanding that TUSD was for most of a year the single most important <a href="https://universeodon.com/tags/stablecoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#stablecoin</a> and the one that was responsible for the *vast* majority of <a href="https://universeodon.com/tags/bitcoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#bitcoin</a> trades on by far the largest crypto marketplace, <a href="https://universeodon.com/tags/Binance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Binance</a>. The company is also rumored to be owned by the sketchiest guy in crypto, <a href="https://universeodon.com/tags/JustinSun" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#JustinSun</a>.Put another way: the price of <a href="https://universeodon.com/tags/Bitcoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Bitcoin</a> was measured in TUSD, not real USD for most of last year. (Now it's measured mostly in an even sketchier stablecoin <a href="https://universeodon.com/tags/FDUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FDUSD</a>.)link: <a href="https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-145.pdf" rel="nofollow noopener noreferrer" translate="no" target="_blank">https://www.sec.gov/files/litigation/complaints/2024/comp-pr2024-145.pdf</a><a href="https://universeodon.com/tags/Uspol" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Uspol</a> <a href="https://universeodon.com/tags/uspolitics" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#uspolitics</a> <a href="https://universeodon.com/tags/finance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#finance</a> <a href="https://universeodon.com/tags/markets" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#markets</a> <a href="https://universeodon.com/tags/stockmarket" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#stockmarket</a> <a href="https://universeodon.com/tags/btc" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#btc</a> <a href="https://universeodon.com/tags/garygensler" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#garygensler</a> <a href="https://universeodon.com/tags/justinSun" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#justinSun</a>

⚯ Michel de Cryptadamus ⚯Signature Bank, FTX, and TrueUSD: A Tale of Questionable JudgementA timeline of the intermingled histories of <a href="https://universeodon.com/tags/FTX" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#FTX</a>, <a href="https://universeodon.com/tags/Binance" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Binance</a>, and their banking partners <a href="https://universeodon.com/tags/SBNY" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SBNY</a> and <a href="https://universeodon.com/tags/Silvergate" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Silvergate</a> (<a href="https://universeodon.com/tags/SI" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#SI</a>).<a href="https://universeodon.com/tags/TrueUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#TrueUSD</a> <a href="https://universeodon.com/tags/BUSD" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#BUSD</a> <a href="https://universeodon.com/tags/PrimeTrust" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#PrimeTrust</a> <a href="https://universeodon.com/tags/Stablecoin" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Stablecoin</a> <a href="https://universeodon.com/tags/Bank" class="mention hashtag" rel="nofollow noopener noreferrer" target="_blank">#Bank</a> <a href="https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a" rel="nofollow noopener noreferrer" target="_blank">https://cryptadamus.substack.com/p/signature-bank-ftx-and-trueusd-a</a>

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