An Ethereum user has taken advantage of TrustToken’s decision to temporarily halt mints and redemptions of its TrueUSD stablecoin through its banking partner, Prime Trust, by initiating an on-chain short position. The user deposited 7.5 million USDC as collateral on Aave’s v2 lending platform, borrowed 4 million TUSD, and promptly sold it for USDC. TrueUSD’s team clarified that the suspension of new TUSD minting through Prime Trust does not affect its operations concerning the conversion of fiat to stablecoin and vice versa.
– An Ethereum user has initiated an on-chain short position on TrueUSD stablecoin.
– The user deposited 7.5 million USDC as collateral on Aave’s v2 lending platform, borrowed 4 million TUSD, and promptly sold it for USDC.
– TrueUSD’s team clarified that the suspension of new TUSD minting through Prime Trust does not affect its operations concerning the conversion of fiat to stablecoin and vice versa.
