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A review of the proof for TrueUSD shows that despite allegations made in a previous settlement agreement with the U.S. SEC, about 99.7% of this stablecoin's reserves are still held by First Digital Trust. It is worth noting that this settlement agreement does not include Techteryx, the company now owning TrueUSD. The company has repeatedly denied being controlled by Sun Yuchen, even though TrustLabs' former CEO claimed that Sun Yuchen had tried to acquire the company. The proof further points out that Moore Hong Kong, the company behind it, conducts "cost" valuations on its fund investments and ensures its "process does not include a review of fair market value of investments within the fund". This means that even if the fair value of assets in this fund has fallen to zero, this proof will continue to report investment values at cost. In addition, explanations from Techteryx management also indicate these assets “may not be easily converted into cash depending on market conditions or fund performance." Currently, approximately $495 million TUSD reserves consist of about $502 million held by First Digital and about $1 million in cash (Protos). At end-September news previously reported stated that U.S. SEC said it had reached settlements with TrueCoin LLC and TrustToken Inc., after making accusations against them for selling stablecoin TrueUSD. SEC pointed out that TrueCoin was issuer for TrueUSD (TUSD), while TrustToken was developer for lending protocol TrueFi. Neither admitted nor denied charges from agency but agreed to pay fines each amounting to $163,766 respectively. According to statement released Tuesday by SEC ,TrueCoin also agreed to disgorge illegal earnings totaling $340,930 . From November 2020 until April 2023,TrueCoin and TrustToken were involved in offering and selling unregistered investment contracts as crypto asset TUSD on platform called 'TrueFi', along with profit opportunities related to TrueUSD. SEC stated that both companies also "falsely promoted investment opportunities as safe and reliable", fully backed by dollars or assets equivalent to dollars, when in fact most of the assets were invested in "speculative and high-risk offshore investment funds for additional returns." It is alleged that by September 2024, 99% of foreign exchange reserves supporting TUSD will be invested in speculative funds.

The official Tether transparency page shows that the authorized issuance of USDT on the TON chain has increased to approximately 1.23 billion USD (1,229,976,002.51 USD); it is currently the fifth largest blockchain for USDT issuance, only behind Tron, Ethereum, Solana and Avalanche.