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YOU WON’T BELIEVE THE OUTRAGEOUS SCAM THAT JUST GOT EXPOSED BY THE SEC: Stablecoin Creators Caught Red-Handed Making Up B.S. About Their Product!

News Sam Rogers October 4, 2024

A stablecoin (TUSD) is shown with a cracked foundation and crumbling walls, surrounded by flames representing financial instability. A nearby offshore fund appears as a sinking ship in rough seas, while two figures (representing Truecoin and Trusttoken) are seen fleeing the scene.

The SEC finally catches up with Truecoin and Trusttoken for their blatant scamming ways. Who would have thought that making false claims about a stablecoin’s backing wouldn’t fly? I mean, it’s not like they were trying to separate gullible idiots from their money or anything (although let’s be real, they totally were). The SEC is right on the ball with this one – after all, who needs transparency and honesty in cryptocurrency when you can just make up whatever sounds good and hope no one notices? I’m sure it has nothing to do with the fact that TUSD lost its peg and 99% of reserves are invested in a speculative offshore fund. Nope, not at all.

Source: bitcoin.com

Trusttoken, Truecoin Settle SEC Charges Over Misleading TUSD Claims
https://news.bitcoin.com/trusttoken-truecoin-settle-sec-charges-over-misleading-tusd-claims
The U.S. Securities and Exchange Commission (SEC) announced settled charges against crypto companies Trusttoken Inc. and Truecoin LLC. The charges allege fraudulent misrepresentations and unregistered sales of investment contracts related to the stablecoin trueusd (TUSD). According to the SEC’s complaint released on Tuesday, Truecoin and Trusttoken allegedly falsely marketed TUSD as a stablecoin fully backed by U.S. dollars while a substantial portion of the assets were invested in a speculative […]

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About the author

Sam Rogers

Sam’s plunge into the crypto world turned into a brutal farce when he fell for an absurdly obvious scam promising to double his investment. After being fleeced by a slick email con, Sam is left fuming and broke. His writing drips with anger and dark humor as he exposes the outrageous scams and ludicrous promises of the crypto world. His motto: “I didn’t just fall for a scam—I was sucker-punched by an entire industry. If you think crypto is a goldmine, just wait until you see how deep it can dig your grave.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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