PANews reported on November 13th that, according to CoinDesk, the Dubai Digital Economy Court issued a global asset freeze order regarding $456 million in funds related to Justin Sun's bailout of Techteryx, the issuer of the stablecoin TrueUSD. The crux of the dispute lies in whether TrueUSD reserve funds were improperly transferred to Dubai trade finance company Aria Commodities DMCC. Aria, an entity under financier Matthew William Brittain, received funds through a Hong Kong First Digital Trust account between 2021 and 2022. Techteryx claims this violated custody terms, turning reserves into irredeemable long-term loans and private transactions. Matthew William Brittain of Aria has stated that the liquidity issues are related to maturity commitments, and that the ARIA CFF strategy is not highly liquid or suitable as a stablecoin reserve. On October 17, 2025, Judge Michael Black KC stated that Techteryx presented “serious issues” pending review, warranting a freeze on the funds. He further stated that Aria had failed to provide evidence of fund transfers and asset ownership, and that Brittain risked “dissipating or restructuring assets to obstruct the judgment.”PANews reported on November 13th that, according to CoinDesk, the Dubai Digital Economy Court issued a global asset freeze order regarding $456 million in funds related to Justin Sun's bailout of Techteryx, the issuer of the stablecoin TrueUSD. The crux of the dispute lies in whether TrueUSD reserve funds were improperly transferred to Dubai trade finance company Aria Commodities DMCC. Aria, an entity under financier Matthew William Brittain, received funds through a Hong Kong First Digital Trust account between 2021 and 2022. Techteryx claims this violated custody terms, turning reserves into irredeemable long-term loans and private transactions. Matthew William Brittain of Aria has stated that the liquidity issues are related to maturity commitments, and that the ARIA CFF strategy is not highly liquid or suitable as a stablecoin reserve. On October 17, 2025, Judge Michael Black KC stated that Techteryx presented “serious issues” pending review, warranting a freeze on the funds. He further stated that Aria had failed to provide evidence of fund transfers and asset ownership, and that Brittain risked “dissipating or restructuring assets to obstruct the judgment.”
A Dubai court has frozen $456 million in funds related to Justin Sun's bailout of Techteryx, the issuer of TrueUSD.
PANews reported on November 13th that, according to CoinDesk, the Dubai Digital Economy Court issued a global asset freeze order regarding $456 million in funds related to Justin Sun's bailout of Techteryx, the issuer of the stablecoin TrueUSD. The crux of the dispute lies in whether TrueUSD reserve funds were improperly transferred to Dubai trade finance company Aria Commodities DMCC. Aria, an entity under financier Matthew William Brittain, received funds through a Hong Kong First Digital Trust account between 2021 and 2022. Techteryx claims this violated custody terms, turning reserves into irredeemable long-term loans and private transactions. Matthew William Brittain of Aria has stated that the liquidity issues are related to maturity commitments, and that the ARIA CFF strategy is not highly liquid or suitable as a stablecoin reserve. On October 17, 2025, Judge Michael Black KC stated that Techteryx presented “serious issues” pending review, warranting a freeze on the funds. He further stated that Aria had failed to provide evidence of fund transfers and asset ownership, and that Brittain risked “dissipating or restructuring assets to obstruct the judgment.”
Market Opportunity
SUN Price(SUN)
$0.020675
$0.020675$0.020675
USD
SUN (SUN) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
XRP Crowned South Korea’s Most-Traded Crypto of 2025
XRP Surpasses Bitcoin and Ethereum as South Korea’s Most Traded Crypto in 2025According to renowned market analyst X Finance Bull, XRP dominated South Korea’s crypto
Share
Coinstats2026/01/16 16:54
$683M to Nscale for 60,000 GPUs by 2026
The post $683M to Nscale for 60,000 GPUs by 2026 appeared on BitcoinEthereumNews.com. Nvidia will invest $683 million in Nscale, the spin-off of Arkon Energy spun off in May 2024 to offer AI cloud services in Europe, with the goal of bringing up to 60,000 GPUs to the United Kingdom. The capital injection, in line with the push towards advanced AI infrastructure, is part of a joint effort to strengthen strategic computing capabilities in the region; the rollout is planned in stages between 2025 and 2026. The operation also coincides with the UK government’s plan to accelerate AI adoption and security, outlined by the government on January 13, 2025. According to data collected by industry analysts, updated as of September 17, 2025, projects that convert mining sites into AI nodes can reduce the time-to-market compared to new facilities by about 30–50%. Our field market analyses indicate typical improvements in PUE in the range of 10–20% after energy optimization interventions and the introduction of liquid cooling. Operators we have monitored also report that long-term energy contracts and proximity to major interconnection nodes are determining factors for the economic sustainability of the clusters. The Agreement in Brief: Figures, Goals, Timeline Investment: $683 million allocated to Nscale. Target capacity: up to 60,000 GPUs deployed in data centers in the United Kingdom. Timeline: phased rollout activity scheduled between 2025 and 2026. Origin Nscale: spin-off from Arkon Energy, created in May 2024 to enter the European market for AI cloud services. From miner to cloud AI: the Nscale spinoff Nscale is born from the conversion of mining assets into nodes for AI workloads, transforming facilities designed for energy-intensive and single-use operations into platforms with high computational value and greater flexibility. The strategy — based on the reuse of existing sites and network connections — allows for reduced startup times and capex, a significant advantage when targeting clusters dedicated…
Share
BitcoinEthereumNews2025/09/18 19:22
Why Bitcoin’s $100K “Resistance” Is Artificial, Not Technical
$1.2B in gamma exposure mechanically suppresses Bitcoin rallies through automated dealer hedging strategies. Call walls at $100K and put floors at $90K trap Bitcoin
Share
LiveBitcoinNews2026/01/16 17:00