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

• The TRU token of decentralized lending protocol TrueFi surged 220% in an hour on Thursday due to speculation around Binance’s minting of $50 million of TrueUSD (TUSD) stablecoin.
• This confusion appears to be based on the past relationship between TrueFi and TUSD, which has since been separated.
• TrustToken sold TUSD in 2020 to Techteryx and then rebranded as Archblock while TrueFi worked on decentralizing its platform.

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. By Krisztian Sandor Feb 16, 2023 at 6:03 p.m. UTC Updated Feb 16, 2023 at 7:24 p.m. UTC

Background of The Speculation

Before the rally took off, Binance, the world’s largest crypto exchange by volume, minted $50 million of TrueUSD (TUSD) stablecoin, according to blockchain data. This event sparked speculation among crypto traders about TUSD potentially gaining a larger role in trading on Binance after the regulatory crackdown on the Paxos-issued Binance USD (BUSD).

Separation Between Tokens

However, the speculation about the TRU token appears to be misplaced because the issuers of the TrueUSD and TRU tokens were separated a while ago. TrustToken sold TUSD in 2020 to a firm called Techteryx and then separated from the original protocol and was renamed Archblock last year as TrueFi embarked on a road to decentralize its platform..

Rally Of TRU Token

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. Earlier this week, Paxos said it would halt minting BUSD on orders from New York regulators amid concerns that non-approved firms were using it for trading activities not allowed under U.S laws such as margin trading or derivative contracts .


The surge of TRU token was likely due to mistaken speculation that linked it with TUSD following news that Binance had minted $50 million worth of stablecoin tokens which caused investors to believe that there may be some kind connection between truefi’s trutoken and tusd’s relaunch despite them being separate entities today

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