🧵 1/3 - Chinese police reportedly detain employees of CNHC stablecoin issuer Trust Reserve. Investigation ongoing. KuCoin Ventures and Circle Ventures are among its investors. #crypto
🧵 1/3 - Chinese police reportedly detain employees of CNHC stablecoin issuer Trust Reserve. Investigation ongoing. KuCoin Ventures and Circle Ventures are among its investors. #crypto
🧵 2/3 - Trust Reserve issues CNHC, a Chinese offshore yuan-pegged stablecoin. Reportedly planning to expand exposure to other exchanges.
🧵 3/3 - Trust Reserve is also known for its Hong Kong dollar-pegged stablecoin HKD Coin. No comment yet from Trust Reserve on the reported detentions.
🧵 Read more at: https://cointelegraph.com/news/cnhc-stablecoin-issuer-detained-by-chinese-police-report