TrueUSD Passes Audit with Flying Colors, Shows TUSD has All Amounts of USD Reserves Reported

One of the largest and most popular stablecoins in the market, TrueUSD (TUSD) has been audited by Independent Accountants and certified by the public accounting firm Cohen & Company. The results show that TrustToken, the company behind TUSD, has the full amount of US dollar reserves as they reported.

TrustToken Audited

According to the audit conducted, TrustToken has $199,063,885 USD held in escrow accounts. In the market, the digital currency company has released 198,982,291 TUSD. This shows that he issued and outstanding TUSD tokens do not exceed the balance of the escrow accounts that the firm has.

It is very important for stablecoins to provide clear information about the funds that they have to back the peg against a specific currency. Tether (USDT), the largest stablecoin in the market, has had many complications and issues with its funds. Because of this reason, the firm has been involved in different controversies in the last years.

The report reads as follows:

“In our opinion, management’s assertion that the Escrow Holdings Report as of March 31, 2019 is presented in accordance with the measurement and disclosure criteria in the accompanying Notes to the Escrow Holdings Report is fairly stated, in all material respects.”

TrueUSD has also announced a new partnership with an accounting firm called Armanino. This dashboard created by this company allows traders to monitor TrueUSD token balances and also the collateralized funds that the company has. In order to provide clear and updated information, the firm runs its own Ethereum (ETH) nodes, providing accurate TUSD token supply and reliable information.

At the time of writing this article, TrueUSD is the 38th largest digital asset with a market capitalization of $201 million.

Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) Price Prediction: Top Crypto Coin Forecast

Get Free Email Updates!

*Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

I will never give away, trade or sell your email address. You can unsubscribe at any time.

Carl T
Carl T
Carl is a legend in cryptocurrency space for his long-storied experience, history and insights. He is a digital nomad who fell in love with bitcoin and its offspring for many years now and prides himself on delivering quality perspectives in the emerging world of crypto-assets and blockchain technology.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

Libra Association’s Policy Director: Multi-Currency Backed Stablecoin Vision Still on Track

Libra has not abandoned its original vision of launching a multi-currency backed stablecoin, according to the organization's Policy Director, Julien Le Goc. Speaking during...

Coinbase Planning for Stock Market Listing that Could Happen as Early as This Year: Report

US-based cryptocurrency exchange Coinbase Inc. has kicked off its plan for a stock market listing that could come as early as this year. The crypto...

Is It Time for Chainlink (LINK) to Retract or Is There Still A Lot to Fuel This Fire

The 12th largest cryptocurrency by market cap has been hitting new all-time highs almost every day this week. The new peak is $6.53, and...

89% of Hodlers Are Worried About Their Crypto, But Only 23% Have A Plan For After Death: Report

An online research report by "after-life" investment experts firm, Cremation Institute, found out nearly 90% of cryptocurrency investors worry about losing their funds...

Real Risk: Circle-Coinbase Consortium Blacklists Ethereum Address Holding $100k Worth of USDC

The CENTRE consortium formed by Circle and Coinbase has blacklisted an Ethereum address holding $100k worth of USDC stablecoin. The transaction on Etherscan shows that...

BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.

Start Using Crypto Today