- Binance was alleged to have taken over 90% of all TUSD in less than 24 hours.
- The issue was that DeFiLlama’s indexing of TUSD addresses was obsolete.
- Meanwhile, Binance executives have left the exchange in connection to CZ’s lawsuit.
It would appear Changpeng Zhao (CZ) will never get a rest from fear, uncertainty, and doubt (FUD), as he is being targeted with two new conspiracy theories. Fortunately, one of them has been debunked.
Specifically, Binance was claimed to have taken monopoly of 90% of all TrueUSD (TUSD) in an overnight event. The initial post said that TUSD on Binance jumped from $500 million to almost $2.7 billion in less than 24 hours.
However, someone pointed out that this was just due to an outdated tracker on DeFiLlama, a decentralized finance (DeFi) TVL aggregator.
As shown in the thread, DeFiLlama thought the supply pump was absurd. Fortunately, someone pointed out that it was due to DeFiLlama not having the updated list of addresses that hold TUSD.
So, the facts appear to be this: 90% of all TUSD is indeed held in Binance, although it was not done in an overnight manner. Also, it is not held maliciously — the primary reason TUSD is in Binance is that outside the exchange, many customers would rather use other stablecoins like USDT and USDC.
Meanwhile, recent departures of Binance executives have been tied to CZ’s lawsuit and his actions in regard to the said conundrum. It has yet to be confirmed by the executives themselves why the C-level officers have left the exchange.
