Dealer takes $4M brief place on TrueUSD as issuer halts mints and redemptions

Following TrustToken’s choice to briefly halt mints and redemptions of its TrueUSD () stablecoin by means of its banking companion, Prime Belief, a dealer has taken benefit of the scenario by initiating an on-chain brief place.

In accordance with on-chain information, an consumer utilized Aave’s v2 lending platform to deposit 7.5 million (USDC) as collateral. They then borrowed 4 million TUSD and promptly offered it for USDC. This technique of borrowing and instantly promoting is incessantly employed to ascertain a brief place on a selected asset.

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