TUSD Issuer's Rights Safeguarded through Major Legal Progress, Justin Sun Thanks Dubai Digital Economy Court Ruling
By: theblockbeats.news|2025/11/13 07:45:54
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BlockBeats News, November 13, Tron Foundation Founder Justin Sun responded to the Dubai Digital Economy Court's ruling on X, expressing appreciation for the court's issuance of a worldwide freeze order to protect TUSD holders' rights for the first time. Justin Sun said: "Justice may be delayed, but it will never be absent."
The freeze order this time involved $456 million in funds related to Justin Sun's rescue of TrueUSD issuer Techteryx. In the ruling, the Dubai Digital Economy Court pointed out that Techteryx had "serious issues to be resolved" and determined that the funds in question should be held in trust to prevent improper transfer or concealment of assets. The funds in question had been controversial due to the TrueUSD reserve gap issue and involved Dubai trade finance company Aria Commodities DMCC.
The incident dates back to the period between 2021 and 2022 when part of the TrueUSD reserve funds flowed into Aria's company account managed by Hong Kong trustee First Digital Trust (FDT). Techteryx accused these transfers of violating the custody terms, converting the original cash reserves into long-term loans and private transactions. In April 2025, Justin Sun held a press conference in Hong Kong, accusing financial institutions including First Digital Trust Limited (FDT) and Legacy Trust Company Limited (Legacy Trust), as well as a private company in Dubai, of illegally diverting $456 million in fiat currency reserves from TUSD.
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