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.”
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