Justin Sun Bailout: How Techteryx’s Stablecoin Crisis Unfolded

The stablecoin issuer TrueUSD (TUSD) faced a liquidity crisis after its reserves were allegedly mismanaged, leading to a significant loss for investors. Justin Sun intervened as the company’s owner in an attempt to stabilize the situation before it escalated further. Court filings allege that funds intended for TUSD’s reserve were diverted, prompting a formal investigation and legal action from Techteryx, the company behind TUSD, to recover losses.