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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

CryptosHeadlines.com

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