Justin Sun Calls for Hong Kong Trust Reforms After TUSD Fund Crisis

Tron founder Justin Sun intervened with emergency funding after the stablecoin TrueUSD (TUSD) issuer, Techteryx, faced a liquidity crisis of $456 million due to illiquid investments. Although claiming limited involvement, Sun provided crucial support during the crisis. A dispute arose between him and First Digital Trust (FDT), accusing them of misuse of funds from TrueUSD reserves. 🎤 Live streamed events revealed accusations that these funds were improperly handled, forcing Sun into action. His claims detailed a major international financial fraud, with traditional institutions allegedly collaborating with Web3 platforms in Hong Kong. Sun emphasized the need for reform in trust regulations to prevent similar incidents, urging regulators to act swiftly and protect Hong Kong’s global standing.