Trust Reserve issues the CNH offshore yuan-pegged stablecoin and the HKDC Hong Kong dollar-pegged stablecoin. The company had received funding from sources including the KuCoin crypto exchange.
Trust Reserve employees arrested
A Chinese cryptocurrency publication has reported that the staff of Trust Reserve (formerly CNHC Group) were detained by police. A sign on the door of the company's office in Shanghai announced "judicial seizure".
- "Team Behind Offshore Yuan, Hong Kong Dollar Stablecoins Detained by Chinese Police: Report", CoinDesk
- "独家：离岸人民币稳定币CNHC发行团队失联，或因涉案被司法部门带走", PA News (in Chinese)