SEC Claims 99% Of TUSD Reserves Invested In Speculative Offshore Funds

According to BlockBeats, on September 25, market sources revealed that the U.S. Securities and Exchange Commission (SEC) has stated that 99% of TUSD reserves are invested in speculative offshore funds. This revelation has raised concerns about the stability and transparency of the stablecoin's backing assets. The SEC's findings come amid ongoing scrutiny of the cryptocurrency sector's regulatory compliance and financial practices. The agency's investigation into TUSD's reserve management highlights the potential risks associated with the use of offshore investment vehicles for stablecoin reserves. This development follows previous allegations by the SEC against TrustToken and TrueCoin, the operators of TUSD, accusing them of deceiving investors regarding their stablecoin investment plans. The SEC's actions underscore the importance of regulatory oversight in ensuring the integrity and reliability of digital assets in the financial market.