In a lawsuit, the founder of Archblock claims that Justin Sun secretly purchased quantities of the stablecoin True (TUSD).

Tron founder Sun has battled rumors and speculation that he has been the secret owner of TUSD for some time. Both Sun and TrueUSD have separately denied the allegations. Now a lawsuit accuses Sun of acquiring TUSD through clandestine methods. The lawsuit claims that Sun employed a range of entities and individuals to execute the acquisition while hiding his own role.

Sun Has Battled Rumors He Owns TUSD

TrueToken launched TrueUSD (TUSD) in 2018. It maintains its peg to the dollar with corresponding USD reserves held in escrow accounts. TrueUSD is currently the smallest of the Big Five stablecoins by market capitalization, according to CoinMarketCap.

The crypto community’s response was generally calm, given the rumors that have followed Sun for years. In screenshots shared on Twitter, Sun appears to have requested that details of any acquisition stay private.

An ominous sign, considering the crypto industry’s ironic reputation for a lack of transparency.

TUSD’s price, which is designed to remain pegged to the US dollar 1:1, did not register any significant change.

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Author: Josh Adams

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