Tron(TRX) News: US Treasury Sanctions TRON Wallets Linked to Yemen’s Houthi Rebel Group

The cryptocurrency world has once again been caught in the crosshairs of geopolitical tensions, with the US Treasury taking drastic action against TRON (TRX) wallets associated with the Houthis, an Iran-backed rebel group in Yemen.

US Treasury Sanctions Tron Wallets Linked to Houthis

The United States Department of the Treasury’s Office of Financial Assets Control (OFAC) has updated its Specially Designated Nationals and Blocked Persons (SDN) list to include eight TRON (TRX) wallet addresses associated with a network of Houthi financial facilitators. The Houthis, an Iran-backed rebel group in Yemen, have previously launched attacks on Israel and commercial ships in the Red Sea. The Treasury alleges that the network procured tens of millions of dollars’ worth of commodities from Russia, including weapons and sensitive goods. This move is part of ongoing efforts to disrupt the financial activities of designated terrorist organizations.

First Digital Trust Denies Insolvency Claims by Justin Sun, Defends FDUSD Stability

Hong Kong-based First Digital Trust (FDT) stablecoin FDUSD lost its peg after TRON founder Justin Sun claimed on social media that the company was ’effectively insolvent,’ preventing users from redeeming their FDUSD assets. Binance holds 94% of the FDUSD supply, raising concerns after the depeg incident. However, First Digital Trust defends FDUSD’s stability, stating that it is fully backed by US Treasury bills.

Binance Confirms FDUSD Reserves Accuracy After De-Pegging Event

Binance has reaffirmed the accuracy of FDUSD’s reserve attestation for February, addressing concerns sparked by a brief de-pegging event. In an update, Binance stated it reviewed First Digital USD’s (FDUSD) reserve data twice to ensure accuracy. As of Mar. 1, FDUSD had $2.05 billion in reserves, according to the audit by Prescient Assurance. These reserves, kept in fixed deposits and U.S. Treasuries, guarantee a 1:1 redemption with USD. The update comes after TRON (TRX) founder Justin Sun accused the stablecoin’s issuer, First Digital Trust, of being insolvent, causing FDUSD to momentarily lose its peg.