TrueCoin attestations missing but Archblock launches new product
Archblock, the company behind many of the True tokens, including TrueGBP, TrueHKD, TrueCAD, and TrueAUD, has launched a new product that allows users to buy access to a fund providing exposures to US Treasuries using USD Coin (USDC) ‘on-chain.’ This product allows clients who have undergone a know-your-customer process, who do not live in the US, and who meet the $100,000 minimum commitment to invest their USDC with a “target return” of 4–6%. The product was launched in collaboration with Adapt3r Digital, an affiliate of cryptocurrency hedge fund MJL Capital. The new product relies on the TrueFi protocol, originally launched by Archblock before nominally being handed off to the ‘TrueFi DAO,’ which is governed by the TRU token. Alameda Research was one of the lead investors in the TRU token and was one of the largest users of the product before defaulting on millions of dollars of uncollateralized loans from the platform. TUSD says everything’s fi...