TrueUSD (TUSD) has regained parity with the U.S. dollar.
The stablecoin lost true parity with the US Dollar on June 10 amid mounting community concerns over its minting and redemption activities.
On June 10, TUSD depegged from the $1 mark after its team paused minting activities via Prime Trust, a Nevada-based crypto custodial firm. Following the news, the stablecoin dropped to as low as $0.9957 on June 11. At press time it had just reclaimed $1.
There were speculations at the time that Prime Trust might have been insolvent as its parent company, Prime Core Technologies, had entered into a non-binding term sheet with BitGo to acquire 100% of its equity on June 8.
While TUSD maintained that its minting and redemption services remain unaffected, as its partnerships with other banking institutions remain intact, several users on its official Telegram handle have raised issues about their redemptions request as of June 13.
In response, a representative of TUSD said:
“Prime Trust will
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