Is Justin Sun’s $456M TrueUSD Dispute Exposing Gaps in Hong Kong’s Trust Company Oversight?

A proposal submitted to the CTDG Dev Hub has introduced the concept of native transaction batching for Tron, aiming to enhance the efficiency of transactions on the platform.

The crypto industry has pledged over $3 million to support the victims of a devastating fire in Hong Kong, which has been reported as the city's deadliest in 80 years, resulting in at least 128 fatalities. This significant financial commitment reflects the industry's response to a humanitarian crisis affecting local residents.

Traders are closely monitoring the cryptocurrency market as the odds of a Federal Reserve rate cut have surged to 85%, significantly impacting market sentiment. This development coincides with Tom Lee's continued accumulation of Bitcoin and the viral resurgence of the Space Quest Bitcoin logo, highlighting a dynamic shift in investor behavior and market expectations.

Ethereum's price is currently testing a critical support level around $3,100, as market bulls strive to maintain momentum following a period of volatility. The cryptocurrency is trading near $3,000, showing signs of recovery from extreme oversold conditions, while global institutions continue to accumulate ETH discreetly.

Justin Sun has escalated the ongoing dispute regarding a $456 million reserve gap related to TUSD during a media briefing in Hong Kong, providing new details about the allegations surrounding the situation.

The United Kingdom is implementing significant changes to its taxation of decentralized finance (DeFi), introducing a 'no gain, no loss' policy that aims to alleviate the tax burden on everyday users engaging in DeFi activities. This initiative is being developed by HM Revenue & Customs and is expected to reshape how DeFi transactions are reported and taxed.

The Solana-based memecoin Bonk has begun trading on Switzerland's SIX Swiss Exchange, following the launch of a regulated exchange-traded product (ETP) by Bitcoin Capital AG. This listing allows investors to gain exposure to Bonk through standard brokerage accounts without the need for a cryptocurrency wallet.

Justin Sun has intensified his allegations against First Digital Trust (FDT), claiming the company has taken advantage of regulatory gaps in Hong Kong's trust company framework. This comes in the wake of a Dubai court's decision to freeze assets linked to the alleged misappropriation, raising concerns about the integrity of the cryptocurrency sector.