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Stablecoin TrueUSD (TUSD) affiliated with Justin Sun lost nearly 80% in market capitalization after crypto exchange Binance removed several trading pairs with it. 
TrueUSD (TUSD), a stablecoin issued by the TrustToken platform, which currently operates as Archblock, declined by 78.9% after several TUSD pairs were <a href="https://crypto.news/binance-delists-multiple-tusd-trading-pairs-tusd-devaluation-to-blame/" target="_blank" rel="">delisted</a> on Binance, analysts at CCData revealed. 
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In its latest stablecoin research report, CCData says the monthly trading volume for TUSD pairs on centralized exchanges has dropped to $569 million, representing a decline of nearly 99% since May 2023. 
 You might also like: <a href="https://crypto.news/paypal-expands-pyusd-stablecoin-to-solana/" rel=""> PayPal expands PYUSD stablecoin to Solana </a> 
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 “Binance remains the dominant exchange that trades the most TUSD pairs with a market share of 68.2%. WhiteBit and BitMartfollow with a market share of 13.4% and 5.32%. The stablecoin has recently introduced a zero-fee trading promotion for TUSD/TRY pair on Bitci to boost its adoption.” 
 CCData 
</blockquote> 
Analysts noted that in May, the total market value of stablecoins rose by 0.63% to $161 billion, marking the eighth consecutive month of growth and reaching the highest level since April 2022. This increase signifies a recovery in the stablecoin market, which had been in a seventeen-month downtrend following the collapse of TerraUSD, according to CCData. 
TrueUSD was launched in March 2018 by TrustToken, a firm co-founded by Rafael Cosman, Stephen Kade, Jai An, and Tory Reiss. The stablecoin was designed to provide a transparent and legally protected stablecoin that is fully collateralized by the U.S. dollar, ensuring its value remains stable. However, following its removal from Binance and issues with custodian <a href="https://crypto.news/trueusd-pauses-minting-of-tusd-via-prime-trust-stablecoin-briefly-depegs/" target="_blank" rel="">Prime Trust</a>, TUSD has several times lost its peg to the U.S. dollar, raising concerns about the stablecoin’s reliability. 
 Read more: <a href="https://crypto.news/stablecoin-issuer-circle-plans-legal-base-shift-to-us-ahead-of-ipo/" rel=""> Stablecoin issuer Circle plans legal base shift to US ahead of IPO </a>

TrueUSD’s crashes 79% following Binance delisting

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