A $3 billion mystery is gripping the crypto market.
TrueUSD is one of the fastest-growing stablecoins—cryptocurrencies pegged to real-world money such as the U.S. dollar that investors use to trade in and out of the digital-currency market. Its market value has more than doubled to about $3 billion since March, making it the fifth-largest stablecoin, according to CoinGecko data. Its share of stablecoin volume on centralized crypto exchanges has climbed to 20% from less than 1% at the start of the year, according to the data provider Kaiko.
No one is sure who controls it.
Source: A Crypto Mystery: Who Controls This Fast-Growing Stablecoin? – WSJ
