• TrueFi’s TRU token surged over 200% after Binance’s TUSD mint sparked speculation.
• The speculation appears to be misplaced as the issuers of TrueUSD and TRU were separated in 2020.
• TrueFi is in the process of transferring its IP and assets to the TrueFi Foundation, a legal entity.

TrueFi’s TRU Token Rallies Over 200% After Binance’s TUSD Mint Sparks Speculation

The rally appears to come from traders mistakenly connecting TRU with TUSD, a stablecoin that had been issued by TrueFi in the past but now no longer is.

Separation of Issuers

TrustToken sold TUSD in 2020 to a firm called Techteryx, according to an announcement by TrustToken Chief Executive Rafael Cosman at the time. TrustToken also separated from the TrueFi protocol and was renamed Archblock last year, as TrueFi embarked on a road to decentralize the platform.

TRU Price Movement

TRU surged as high as 14.6 cents from 4.4 cents on Binance before later paring some of the gains. The token was trading at around 11 cents at press time.

BUSD Drama

Earlier this week, Paxos said it would halt minting BUSD on the orders of U.S regulators, sparking speculation that other stablecoins such as TUSD may be given more airtime on exchanges like Binance going forward due to their better compliance infrastructure.

Conclusion

It remains unclear why speculators have linked this event with TRU token despite their separate issuers; however, it appears they are mistaken connections based on similar namesakes between TUSD and TRU tokens without much substance behind them.