- They accused Adam Cochran and Protos journalists of libel
- The company is ready to defend its honor in court
The issuer of the stablecoin TrueUSD (TUSD) denies any connection to Justin Sun.
“TrueUSD never belonged to Justin Sun and it is a despicable act to misrepresent Proof of Reserve TUSD in real time in cooperation with our audit firm and Chainlink and banking partners.
We reserve the right to pursue legal remedies against your defamation.”
It was the company’s response to accusations by popular crypto analyst Adam Cochran. He wrote that Justin Sun secretly bought TrueUSD, but continues to pay ex-owners in the US to manage the project. The blogger also accused TrueUSD of distorting real information about reserves and working with offshore banks.
In his accusations, the analyst refers to a study by the crypto publication Protos. They write that TrueUSD changed ownership in 2020, and the Techteryx conglomerate became the new buyer. This company is registered in Singapore. She officially describes herself as “an Asian consortium that will work with TRON.”
Journalists also cite other facts in favor of Justin Sun controlling TrueUSD. So, on Monday, he transferred 115.1 million TUSD to Binance. And before that, one of the Techteryx sites indicated that Sun was an “Asian market consultant” for TrueUSD.