• TrueUSD (TUSD) is the fifth-largest stablecoin by market cap and has been linked to Tron founder Justin Sun.
• This week, TrueUSD threatened Cinneamhain Ventures Partner Adam Cochran with a defamation lawsuit for making claims that Sun owned the stablecoin.
• Despite the threat of legal action, Cochran continued to press his claim.
TrueUSD’s Rise
TrueUSD (TUSD) has risen from relative obscurity to become the fifth-largest stablecoin by market cap, thanks to growing support from Binance, the world’s largest crypto exchange by 24-hour trading volume.
Justin Sun Ownership Claims
TUSD’s newfound notoriety has unsurprisingly attracted scrutiny. With its ownership opaque, some openly speculate that the stablecoin is owned by Tron founder Justin Sun.
TrueUSD Rejects Claim and Threatens Defamation Lawsuit
TrueUSD has not taken kindly to these speculations, recently threatening one such detractor with a defamation lawsuit while forcefully rejecting being owned by Sun. In a tweet on May 3rd 2023, Cinneamhain Ventures Partner Adam Cochran had asserted that Justin Sun owned the stablecoin and now controlled the private keys to its wallets. TrueUSD then responded saying „We reserve our right to pursue legal remedies against your defamation.“
Cochran Fires Back at True USD
Cochran however continued pressing his claim despite the legal threats from TUSD and questioned why there was no record of Techteryx on Singapore’s database while highlighting that all parties involved would be open to discovery in a defamation case.
Conclusion
Overall, this article details how True USD threatened Cinneamhiain Ventures Partner Adam Cochran with a defamation lawsuit after he claimed that Tron founder Justin Sun owned their stablecoin and had control over it’s private keys. Despite their threats however, Cochran continued pressing his claim and raised further questions about lack of records of Techteryx in Singapore’s database which could lead to further discoveries in any potential defamation case against him.
