BlockTower Capital, Andreessen Horowitz (a16z) and Alameda Research led the round by purchasing TRU, TrueFi’s native token.
The transparency measure is meant to provide additional certainty for decentralized finance (DeFi) traders who often rely on asset-backed stablecoins.
Buying bitcoin may be cheaper using a stablecoin the market has greater confidence in, like the Gemini dollar, than with an alternative like USDT.