TrueUSD 市值暴跌引发挂钩担忧

TrueUSD's Market Cap Plunges, Raising Questions

TrueUSD 市值暴跌引发质疑

Is TrueUSD Losing Its Peg?

TrueUSD 正在失去挂钩吗？

TrueUSD, the stablecoin linked to Justin Sun, has witnessed a precipitous decline in its market capitalization, plummeting by over 50% from $1.29 billion on March 15 to a mere $615 million on March 22. This sharp drop has followed Binance's decision to delist several TrueUSD trading pairs on March 15.

与孙宇晨挂钩的稳定币 TrueUSD 市值急剧下跌，从 3 月 15 日的 12.9 亿美元暴跌至 3 月 22 日的仅 6.15 亿美元，暴跌超过 50%。这一大幅下跌是在币安决定下架数个 TrueUSD 后发生的。 3月15日交易对。

Where Did the Reserves Go?

储备金去哪儿了？

A closer examination of TrueUSD's credentials reveals a curious shift in its reserve composition. US Treasuries, once a cornerstone of its backing, are now conspicuously absent. Instead, the remaining funds are dispersed among "a depository institution in Hong Kong, a depository institution in Switzerland and depository institutions in the Bahamas," amounting to approximately $200 million. The bulk of the reserves, around $500 million, is held by First Digital Trust Limited.

仔细检查 TrueUSD 的资质就会发现其储备构成发生了奇怪的变化。曾经是其支持基石的美国国债现在明显缺席。相反，剩余资金分散在“香港的一家存款机构、瑞士的一家存款机构和巴哈马的存款机构”之间，金额约为2亿美元。大部分储备金（约 5 亿美元）由 First Digital Trust Limited 持有。

First Digital Trust's FDUSD: A Cause for Concern?

First Digital Trust 的 FDUSD：值得关注的原因吗？

Coincidentally, First Digital Trust Limited has launched its own stablecoin, FDUSD, which has also suffered a significant decline in market cap. Since March 2, FDUSD has shed roughly $12 billion, dropping from a peak of $15 billion to its current value of $3 billion.

无独有偶，First Digital Trust Limited 也推出了自己的稳定币 FDUSD，但其市值也出现了大幅下滑。自 3 月 2 日以来，FDUSD 已蒸发约 120 亿美元，从 150 亿美元的峰值跌至目前的 30 亿美元。

Is the Stablecoin Market Divided?

稳定币市场分裂了吗？

Despite the setbacks faced by TrueUSD and FDUSD, the stablecoin market as a whole has not been uniformly impacted. Tether, for instance, has seen its market cap surge by approximately $700 million since March 15, demonstrating resilience amidst the turbulence.

尽管 TrueUSD 和 FDUSD 面临挫折，但整个稳定币市场并未受到一致影响。例如，自 3 月 15 日以来，Tether 的市值飙升了约 7 亿美元，显示出在动荡中的韧性。