New Surge in TUSD Supply Could Trigger Bitcoin Rally


  • Coinbase distances itself from CEO Brian Armstrong’s comments on SEC investigation
  • Digital Currency Group nearing settlement with Genesis creditors; reports $216M Q2 revenue as new CFO takes helm
  • Could a new surge in TUSD supply trigger another Bitcoin rally?

Coinbase Distances Itself From CEO

Coinbase has distanced itself from its CEO Brian Armstrong’s comments regarding a potential investigation by the U.S. Securities and Exchange Commission (SEC). The company is currently in talks with the agency over potentially misleading statements made by Armstrong about the status of an ongoing investigation.

Digital Currency Group Nearing Settlement

The Digital Currency Group, which is owned by Coinbase, is nearing a settlement with creditors of Genesis Trading, according to reports. The group reported $216 million in second quarter revenue, as a new Chief Financial Officer takes the helm. Meanwhile, German privacy watchdog BfDI has been investigating Worldcoin since November 2022.

Tether Reports Signifcant Bitcoin Reserves Increase

Tether announced an increase in its Bitcoin reserves of up to $170 million alongside drawdown in allocation for precious metals holdings. This came after the SEC sued HEX founder Richard Heart for allegedly unregistered securities sales and fraud accusations.

Surge In TUSD Supply Could Trigger Bitcoin Rally

The recent surge in TrueUSD (TUSD) supply could be signaling another Bitcoin price rally soon. Historical data suggests that significant increases in TUSD supply have preceded notable Bitcoin rallies in early May 2021 and mid-July 2021, February 2023 and June 2023 respectively. However, whether or not this pattern will repeat itself remains to be seen.

Conclusion Despite the correlations between spikes in TUSD supply and subsequent Bitcoin rallies that have been observed historically, it remains uncertain if this trend will continue into the future or if it is simply coincidental. Only time can tell what effect this pattern may have on future cryptocurrency prices going forward.