Announcements: TrustToken Platform
Welcome to Announcements with Host No. 2, Demetrick Ferguson, a show that provides you details on current events, upcoming projects in the blockchain space, and token offering details. We are attempting to provide you with details and information from the people who are creating projects, and we are not giving advice. Please do proper due diligence when considering investments.
Today we are interviewing Tory Reiss, the VP of Trust Token. Trust Token’s first product, TrueUSD, a stable coin designed to aid the liquidity of cryptocurrency markets has had a successful SAFT raise. Currently, TrueUSD funds exceed $80M and they will pass $100M very soon. TrueUSD has also been added in the last two weeks as a quote currency on HitBTC, HBUS, and The Ocean exchanges.
The dominant stablecoin at the moment is Tether, which is also pegged to the USD and does $2.4 billion in volume each day. It’s the lifeblood of the market; providing price stability as the market swings. It has also been dubbed “crypto’s ticking time bomb” as Tether is being investigated the US Commodity Futures Trading Commission for fraudulently not holding the same number of USD in collateral as what as in circulation. New research released last week by the University of Texas also claims Tether was behind Bitcoin’s metoric rise using a concentrated campaign of price manipulation. Tether has never opened their books and fired their only auditor at the end of last year, raising fears of a ‘bank run’ type scenario. It is only a matter of time before it implodes and billions move into the next generation of stablecoins like TrueUSD.
TrueGold is in development. Beyond that, the team sees a much bigger opportunity in unlocking trillions in real-world assets that are difficult to trade such as real estate, IP, or art. Tokenizing provides liquidity and fractional ownership for those assets. Creators and entrepreneurs could offer equity crowdfunding for any project or business to a global audience. Investors could have unprecedented access to investing opportunities for new asset classes around the world.
Enjoy!