TrustToken published the audit results of stabilcoins TrueUSD (TUSD) in a blog post dated April 8th. The audit shows that the US dollar has the exact amount of reserves.
According to the Independent Accountant and Financial Advisor Report prepared by Certified Public Accounting Company Cohen & Company as of March 31, 2019, the US dollar balance held in deposit accounts is USD 199.063.885 and the balance of TUSD tokens is 198982.291 TUSD.
Issued and unpaid TUSD tokens do not exceed the balance of the specified escrow accounts. In the report,
”The supply of TUSD tokens can be reconciled with transactions within escrow accounts, including depository deposits pending in token mining and tokens waiting for escrow payments, ları he said.
Last month, TrueUSD announced its new partnership with the accounting firm Armanino. A dashboard developed by Armanino enabled investors to track TrueUSD token balances and collateralized funds. Announcement,
Sağlamak Armanino connects directly to third-party escrow accounts that hold the US dollar to secure TrueUSD tokens, and have their own TUSD token I Etherea the network runs, ağ he said.
Some stabilcoins - Actually dependent on currencies, algorithms, or physical assets to minimize volatility on the stock market crypto currencies - they were previously suspected of lacking appropriate reserves to support them. In March, developers behind stabilcoin Tether (USDT) made the review after realizing that social media users claim that subcoin is fully supported by the US dollar.
In a new update, ”We emphasized that each Tether is always 100% supported by our reserves, which include traditional currency and cash equivalents, and may occasionally be included in Tether's loans and may be involved in third parties that may include affiliates.“ This suggested that some community members had jeopardized the legitimacy of all money.
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