The issuer of TUSD, Techteryx, faced a liquidity crisis due to the inability to redeem reserves, and Sun Yuchen provided $456 million in emergency funding support for TrueUSD

ChainCatcher news, according to CoinDesk, Tron founder Justin Sun provided crucial funding support for the TrueUSD (TUSD) stablecoin between 2023 and early 2024, addressing a reserve shortfall of nearly $456 million.

According to court documents in Hong Kong, the reserves of TUSD issuer Techteryx became unrecoverable after being invested in Aria-related entities, leading to a severe liquidity crisis. Although Justin Sun publicly stated that he only served in an advisory role, he actually provided emergency funding support during the crisis, allowing TUSD to continue meeting user redemption demands.

The case also involves allegations against First Digital Trust for unauthorized fund transfers to a Dubai entity, as well as multiple challenges faced by TUSD, including regulatory issues and partner bankruptcies in the United States.