Curve Finance is considering removing TrueUSD (TUSD) as collateral for its stablecoin crvUSD following securities law violations brought by the Securities Exchange Commission (SEC) against TrueCoin and TrustToken. The allegation alleges that 99% of TUSD's reserves are invested in high-risk offshore funds, raising concerns about its safety and solvency.
A proposal was made in Curve's governance forum to reduce crvUSD's TUSD collateral cap to zero and reduce its association with the PayPal stablecoin PYUSD to reduce the associated risk. Currently, crvUSD's main collateral includes Ethereum (ETH) and Wrapped Bitcoin (WBTC).
Curve considers removing TUSD as crvUSD collateral, concerns over SEC allegations
2024-09-25 22:18:45
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