SEC Amends Lawsuit Against Tron Founder, Asserting US Jurisdiction
Bitcoin.com » Tron (TRX)
by Bitcoin.com
3M ago
The United States Securities and Exchange Commission (SEC) has filed an amended lawsuit against Tron founder Justin Sun, claiming he spent a significant amount of time in the U.S., thus granting the SEC jurisdiction over him and his businesses. The SEC alleges that Sun’s extensive travel within the U.S., totaling at least 380 days between ..read more
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Hans Zimmer Composes Anthem for TRON, Coining It the ‘Web3 Generation’ Theme Song
Bitcoin.com » Tron (TRX)
by Bitcoin.com
3M ago
Academy award-winning composer Hans Zimmer has created an anthem for TRON, founded by the controversial entrepreneur Justin Sun, a prominent figure in the cryptocurrency space known for his brash personality. The Tron Anthem by Zimmer, dubbed the song for the “Web3 Generation,” aims to encapsulate the trials Sun has faced, amidst Sun being sued by ..read more
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Clock Ticks Slower for Justin Sun and Rainberry: Court Grants Extension Amid SEC Allegations 
Bitcoin.com » Tron (TRX)
by Jamie Redman
10M ago
In the lawsuit pitched by the U.S. Securities and Exchange Commission (SEC) against Tron’s brainchild, Justin Sun, and his enterprise Rainberry, a judicial nod has been granted for an extended timeline for the defense. Sun now has until December 8, 2023, giving his attorneys a broader window to “explore possible resolution of the SEC’s claims against defendants before motion practice.” Sun’s Legal Horizon Extended: Judge Gives Breathing Room in SEC’s Tron-Related Suit In March 2023, a legal storm brewed for Justin Sun, the Tron Foundation, the Bittorrent Foundation, and the entity known as Ra ..read more
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Report: Binance’s Decision to Airdrop $3 Million to Morocco Earthquake Victims via BNB Token Criticized
Bitcoin.com » Tron (TRX)
by Terence Zimwara
11M ago
Cryptocurrency exchange Binance has been criticized for pledging to help victims of Morocco’s devastating earthquake by airdropping its native crypto token. According to Action on Armed Violence’s Iain Overton, people affected by the earthquake are only interested in getting immediate assistance and not crypto. Binance Accused of Using Devastation to Prop Up Its Image , one of the top cryptocurrency exchanges globally, has been criticized over its decision to donate its crypto token known as BNB to Moroccans in places most affected by the recent earthquake. Some critics accuse Binance of usin ..read more
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Tron’s Stablecoin USDD Deviates From the $1 Peg, Justin Sun Says Team Deployed More Capital
Bitcoin.com » Tron (TRX)
by Jamie Redman
1y ago
The Tron-based stablecoin USDD has once again dropped below the $1 parity to a low of $0.969 on Monday, Dec. 12, 2022. Amid the drop in USDD’s value, Tron founder Justin Sun tweeted that his team was “deploying more capital,” and the stablecoin’s web portal usdd.io claims the project is overcollateralized by 200.8% at the time of writing. Justin Sun Tells Crypto ‘Lads’ to Hold ‘Steady’ as USDD Team Deploys More Capital Tron’s stablecoin USDD is the eighth largest dollar-pegged token and it’s ranked 57 in terms of the largest market capitalizations among thousands of crypto assets. On Monday ..read more
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Value Locked in Defi Drops to Lows Not Seen Since March, Ethereum Dominates TVL by 57%
Bitcoin.com » Tron (TRX)
by Jamie Redman
1y ago
The state of decentralized finance (defi) in terms of total value locked (TVL) has been tumultuous, to say the least, and currently the TVL in defi today is approximately $54.95 billion. The TVL has not been this low in over five months since March 29, and the most dominant defi protocol today is Makerdao, leading the pack by 13.27% Value Locked in Defi Slips Under $55 Billion At the time of writing, the top smart contract platform coins by market capitalization are up against the U.S. dollar in value, roughly by 0.6%, and the smart contract token economy is valued at $296 billion. While sma ..read more
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Tron’s USDD Remains Below the $1 Parity for 24 Hours, Token Hits a Low at $0.95 per Unit
Bitcoin.com » Tron (TRX)
by Jamie Redman
1y ago
Tron’s stablecoin USDD has remained below the $1 parity for well over 24 hours and around 3:00 a.m. (ET), USDD hit a low of $0.958 per unit. The Tron DAO Reserve has deployed more tron tokens and USDC to defend the peg and the DAO’s reserve web page shows the coin is overcollaterized by 314% at the time of writing. Tron’s USDD Has Been Unable to Surpass $0.98 During the Past 24 Hours The stablecoin USDD, issued on the Tron blockchain, is an algorithmic stablecoin that also leverages overcollateralization to hold a $1 peg. However, USDD has not been able to keep the $1 parity over the last 24 ..read more
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Tron Now Commands the Third-Largest TVL in Defi — Network’s Stablecoin USDD Confronted by Skepticism
Bitcoin.com » Tron (TRX)
by Jamie Redman
1y ago
This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by the defi protocol Justlend, an application that’s similar to Anchor Protocol as it offers more than 20% APY for USDD deposits. Amid Tron’s TVL rising, the network’s stablecoin USDD has been confronted by skeptics over the similarities USDD holds with Terra’s UST. Tron Takes the Third-Largest Position in Terms of Total Value Locked in Decentralized Finance Protocols On May 30, 2022, Tron managed to become ..read more
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Tron’s Justin Sun Reveals Decentralized Algorithmic Stablecoin USDD
Bitcoin.com » Tron (TRX)
by Jamie Redman
1y ago
On April 21, Justin Sun, the founder of Tron, announced the launch of a decentralized algorithmic stablecoin called USDD. Sun said on Thursday that the USDD Network will “provide custody service for the $10 [billion] worth of highly liquid assets raised from blockchain industry initiators and use them as an early-stage reserve.” Tron to Launch a Native Stablecoin Called USDD Justin Sun from the Tron network has revealed a new stablecoin issued on top of the blockchain Tron. The announcement was also published on hejustinsun.com in a blog post called “An Open Letter on the Issuance of USDD, a ..read more
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Tron’s USDD Regains Stability After Tapping an All-Time Low at $0.92
Bitcoin.com » Tron (TRX)
by Jamie Redman
2y ago
Between June 13 and June 27, or roughly two weeks, Tron’s stablecoin USDD dropped lower than the $1 parity and slipped to a low of $0.928 per unit on June 19. During the past seven days, USDD has managed to jump back to the $0.98 to $0.99 region while reaching $1 on July 3. Tron’s USDD Stablecoin Climbs Back Above $0.98 per Unit The stablecoin USDD, issued on top of the Tron network, saw its value slip below the typical $1 parity it held prior to June 13. Prior to that day, the stablecoin’s chart looked similar to an electrocardiogram flatline holding a stable value of around $0.994 to $1. Be ..read more
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