Tether USDt

TrueUSD

USDC

TrustUSD

Trust Reserve, the company responsible for issuing two stablecoins, had its team arrested by Chinese police on May 29, as reported by PANews.On that day, the team stopped communicating, and their family members were informed. When the news agency visited the project’s office in Shanghai, they discovered a notice indicating “judicial seizure.” The reasons for the arrest of Trust Reserve’s team by the police remain unclear.Trust Reserve created <a href="https://cryptosheadlines.com/circle-introduces-euro-based-stablecoin-on-avalanche-blockchain/" rel="noopener noreferrer nofollow">stablecoins</a> backed by the Chinese yuan (CNY) and Hong Kong dollar (HKD).During a funding round known as Series A&#43;, Trust Reserve, the stablecoin issuer, secured $10 million in investment. KuCoin Ventures led the funding round, with participation from Circle and IDG Capital. At the time, the company stated that it had approximately 60 employees and intended to expand its workforce further. <a href="https://cryptosheadlines.com/trust-reserve-stablecoin-issuers-team-arrested/" rel="noopener noreferrer nofollow">Read More...</a>Join Cryptos Headlines Community: <a href="https://linktr.ee/cryptosheadlines.com" rel="noopener noreferrer nofollow">https://linktr.ee/cryptosheadlines.com</a>

Trust Reserve Stablecoin Issuer’s Team Arrested

cmcdelete@edb8d1ee4ec9a85c04690131b307c085

Other articles published on May 31, 2023

3 MORE Soaring ChatGPT Crypto AI Tokens

Top 4 Polygon Ecosystem Coins for 2023

Binance: CZ dispels FUD and predicts the next crypto trend

dYdX is Building v4 Front-end for Web, iOS, and Android, all will be Open Source

Winners Announcement: WEMIX.Fi Event Celebrating the Adding of 9 New Pools

PUBLISH Institute on the transformative potential of Web3 and blockchain on the news media industry

Join our free newsletter for daily crypto updates!