“Can a daily-attested, multi-chain USD stablecoin become trusted infrastructure for global digital payments despite the collapse of its parent company's corporate structure?”
TrueUSD launched in 2018 as TrustToken's flagship USD-pegged stablecoin, distinguished by daily third-party reserve attestations via Moore Hong Kong. The company rebranded to Archblock LLC and expanded into the TrueFi uncollateralized DeFi lending protocol. Custodial instability emerged when Prime Trust—the bank account custodian for TUSD minting—entered receivership in mid-2023; this, combined with FTX/Alameda's ~$32.3M investment and subsequent collapse and legal action from the Celsius estate, culminated in Archblock filing for Chapter 11 bankruptcy in February 2026.
Trueusd is founded in 2018 and headquartered in San Francisco, California, USA.
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