Celsius Estate Sues TrueUSD Firms Over Alleged Misuse of Customer Deposits
The Celsius estate has initiated legal action against companies managing TrueUSD stablecoins, accusing them of using customer deposits for high-risk offshore investments. According to NS3.AI, Celsius asserts that it is unable to redeem stablecoins valued at nearly $13 million, despite liquidity support from Justin Sun's Techteryx. The accused firms have refuted the allegations, yet ongoing lawsuits and insolvency challenges at associated entities like Prime Trust have sparked apprehension regarding the stability of TrueUSD and similar stablecoins.
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