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News

Tron Blockchain TUSD Peg Lost as Accusations of Supporting Terrorism Spread

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Key Points:
  • Tron blockchain TUSD peg experiences instability at 0.9955, sparking worries about the blockchain’s stability.
  • Reuters report suggests Tron’s increasing use for terrorism financing surpasses Bitcoin.
  • Justin Sun defends the blockchain’s integrity on social media amid terrorism financing allegations.
In a recent development, the Tron blockchain TUSD peg is shaking, with its lowest price reaching $0.9955.
Tron Blockchain TUSD Peg Lost as Accusations of Supporting Terrorism Spread
TUSD price chart. Source: CoinMarketCap
Tron blockchain TUSD peg decreased slightly in the past few hours amidst growing uncertainties surrounding the Tron blockchain, raising concerns within the crypto community.
Adding to Tron’s challenges, a Reuters report today highlights a concerning trend. The Tron blockchain is reported to be utilized more for financing terrorism than Bitcoin, outpacing its larger rival in terms of speed and cost-effectiveness.
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According to the report, Tron has become a preferred platform for crypto transfers linked to organizations designated as terrorist entities by the EU, Israel, the US, and other nations. Israeli security services’ data on crypto seizures since 2021 underscores this shift, revealing a notable increase in the targeting of Tron wallets and a simultaneous decline in Bitcoin wallet seizures.
Justin Sun, the founder of the Tron blockchain, took to X (formerly Twitter) to defend the network against these allegations. Sun emphasizes Tron’s decentralized structure, akin to Bitcoin and Ethereum, as the cornerstone of its philosophy.
“While committed to combating terrorist financing, our top priority remains decentralization, asset safety, and providing instant, affordable, and reliable transactions,” Sun stated.
Simultaneously, the depegging of TUSD may reflect wider community concerns about the Tron blockchain. Previously, the Tron blockchain TUSD peg also dropped to $0.998 in June, triggered by the suspension of minting through Prime Trust, causing a ripple effect in the crypto market.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold

27 November 2023, 18:13:22 GMT +0000

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

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