The reserve fund of Techteryx, the issuer of TUSD, could not be redeemed, resulting in a liquidity crisis. Justin Sun provided $456 million in emergency funding support for TrueUSD

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According to ChainCatcher, citing CoinDesk, TRON founder Justin Sun provided critical funding support for TrueUSD (TUSD) stablecoin during the early period of 2023 to early 2024, addressing a reserve fund gap of approximately $456 million.

Based on Hong Kong court documents, the reserves of Techteryx, the issuer of TUSD, were invested in Aria-related entities and could not be redeemed, leading to a severe liquidity crisis. Although Justin Sun publicly stated he only served in an advisory role, he actually provided emergency funding during the crisis, enabling TUSD to continue meeting user redemption needs.

The case also involves allegations against First Digital Trust for unauthorized fund transfers to Dubai entities, as well as multiple challenges faced by TUSD, including regulatory issues and partner bankruptcies in the United States.

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