June 28 (Cointime) - The stablecoin TrueUSD (TUSD) has experienced its second depegging this month, with its value falling to 0.9974 against Tether (USDT) on Binance and 0.80 on Binance.US. This follows the placement of crypto custodian Prime Trust into receivership after BitGo cancelled its bid to acquire the firm.

While TUSD denies exposure to Prime Trust, its reserves on the Curve pool have risen by over 70%, and TUSD deposit and loan interest rates in Aave V2 have soared. Whales and investors are taking arbitrage opportunities to swap TUSD for USDC and other stablecoins, with TUSD having $20 million in plunge protection buys down to $0.997.