TUSD Issuer's Rights Safeguarded through Major Legal Progress, Justin Sun Thanks Dubai Digital Economy Court Ruling

2 hours ago

On November 13th, Justin Sun, the founder of the Tron Foundation, responded to the ruling of the Dubai Digital Economy Court on X. He expressed appreciation for the court's issuance of a worldwide freeze order for the first time to protect the rights of TUSD holders. Justin Sun said, "Justice may be delayed, but it will never be absent." This freeze order involved $456 million in funds related to Justin Sun's rescue of the TrueUSD issuer Techteryx. In the ruling, the Dubai Digital Economy Court pointed out that Techteryx had "serious issues to be resolved" and determined that the funds in question should be held in trust to prevent improper transfer or concealment of assets. These funds had been controversial due to the TrueUSD reserve gap issue and involved Dubai trade finance company Aria Commodities DMCC. The incident dates back to the period between 2021 and 2022 when part of the TrueUSD reserve funds flowed into Aria's company account managed by Hong Kong trustee First Digital Trust (FDT). Techteryx accused these transfers of violating the custody terms, converting the original cash reserves into long-term loans and private transactions. In April 2025, Justin Sun held a press conference in Hong Kong, accusing financial institutions including First Digital Trust Limited (FDT) and Legacy Trust Company Limited (Legacy Trust), as well as a private company in Dubai, of illegally diverting $456 million in fiat currency reserves from TUSD.

Add to Favorites Download image Share x Copy link

Relevant content

Web3AI Agent AgentLISA Announces $12 Million in Funding

On November 13th, the Web3 AI Agent AgentLISA announced the successful completion of a $12 million financing round. This round was participated in by Redpoint Ventures, UOB Venture Management, Signum Capital, NGC Ventures, Hash Global, LongHash Ventures, M23 Capital, Kryptos, Fellows Fund, ByteTrade Lab, Summer Ventures, and Woori Ventures. The raised funds will be utilized to develop its AI agent security framework, with the aim of discovering complex multi-step vulnerabilities that are often overlooked by traditional scanners and manual audits.

1 seconds ago

Supreme Court: Intensify the Crackdown on Illegal Activities in the Dark Web Industry, with a Focus on Disposing of Virtual Currency Involved in Cases

November 13th. According to Caixin, combating and governing cybercrime presents a global challenge. The Eighth National Conference on Criminal Adjudication held on November 13th underscored the importance of safeguarding cybersecurity. It put forward specific requirements in three aspects: concentrating on handling cases involving virtual currencies, online live streaming of obscene performances, the jurisdiction of cybercrime cases, electronic data forensics and authentication, and other new problems. The aim is to further enhance judicial rules, standardize judicial criteria, and promote lawful and civilized internet usage. It is intended to severely crack down on cross-border online gambling crimes in accordance with the law, hold criminally responsible online platforms that provide services for overseas gambling and disseminate harmful gambling-related information, and cooperate with relevant departments to rectify online gambling promotion chains. It is necessary to intensify effo

1 seconds ago

Bitcoin Drops Below $103,000, 24-hour Decrease of 1.3%

On November 13th, based on HTX market data, Bitcoin fell below $103,000, experiencing a 24-hour decline of 1.3%.

1 seconds ago

Shitcoin ETF Candidate Sees Surge in 24-Hour Trading Volume, XRP Volume Up Over 60%

On November 13th, according to GMGN and Coinlass monitoring. It is possible that influenced by the "Canary XRP ETF Officially Effective" news, the 24-hour trading volume of several meme coins listed on the DTCC (Depository Trust & Clearing Corporation) website has increased significantly. These include: The 24-hour trading volume of XRP is up by 62.1%, with a 24-hour change of 4%, and it is currently priced at $2.5. The 24-hour trading volume of DOGE is up by 22.2%, with a 24-hour change of 1.7%, and it is currently priced at $0.176. The 24-hour trading volume of Chainlink (LINK) is up by 22.8%, with a 24-hour change of 1.86%, and it is currently priced at $15.9. The 24-hour trading volume of HBAR is up by 33.7%, with a 24-hour change of -1.86%, and it is currently priced at $0.179.

1 seconds ago

Jupiter New Proposal: Add Instant Unstake Option for JUP with a 3% Fee

November 13th: The Jupiter community has put forth a new proposal to incorporate an instant unstake option for the JUP token, accompanied by a 3% fee. Users are now able to utilize this option without having to endure the standard 7-day waiting period. This mechanism is designed to offer long-term staking incentives. The fee can either be burned or transferred to the Litterbox or the Staking Rewards Pool, thereby benefiting the community and curbing the circulating supply.

1 seconds ago

Ripple Plans to Invest $4 Billion to Build the Financial Infrastructure Connecting Cryptocurrency with Wall Street

On November 13th, as per Cointelegraph, Ripple intends to allocate $4 billion to develop its core markets business, custody services, fund management tools, and stablecoin promotion in order to connect cryptocurrency with Wall Street.

1 seconds ago

Hot feeds

A trader profits $448K by monitoring #Binance's new listings!

2024.12.13 17:37:29

A smart #AI coin trader made $17.6M on $GOAT, $ai16z, $Fartcoin,$arc.

2025.01.05 16:05:18