TUSD tumbled as low as $0.984 on Jan. 15, amid reports that holders are cashing out for USDT and reported difficulties posting real-time attestations of its reserves.
Justin Sun-linked stablecoin TrueUSD (TUSD) has fallen below its $1 peg amid reports that holders have been cashing out hundreds of millions worth of TUSD in exchange for competitor stablecoin Tether (USDT).
TUSD first fell significantly below its peg just around Jan. 15, 11:00 am UTC, tumbling as low as $0.984 at 11:15 pm. At the time of publication, TUSD is trading for $0.988, 1.3% below its intended $1 peg, per CoinMarketCap data.
The depegging event comes amid an outsized volume of selling of TUSD on the crypto exchange Binance.
