TrueUSD Depegs on Binance.US, Drops to 80 Cents Against Tether

TrueUSD (TUSD) traded at a discount to Tether on Binance.US, falling to a low of 80 cents on Wednesday before trading at 89 cents at press time, according to TradingView data. The token's reserve report showed $26,000 in assets held at a U.S. depository institution ordered to halt withdrawals, and its attestation was provided by The Network Firm, a rebranded outlet of former FTX auditor Armanino. Adam Cochran, Managing Partner of Cinneamhain Ventures, tweeted alarm that the auditor had renamed itself after the FTX scandal, and he said TrueUSD's Chainlink price oracle draws all its data from that same firm.