Fifth-Largest Stablecoin TrueUSD Extends Drop After Losing Peg
- TrueUSD traded as low as 97 US cents on Thursday in Asia
- Stablecoin sector has come under growing regulatory scrutiny
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TrueUSD, the crypto sector’s fifth-largest stablecoin, fell as low as 97 US cents on Thursday in Asia after veering from its intended dollar peg.
The $1.9 billion token, a relatively obscure asset overshadowed by the top two stablecoins Tether and USDC, was trading at roughly 98.6 US cents as of 2:45 p.m. in Singapore. It swayed from its peg on Jan. 16.