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The recent controversy surrounding First Digital Trust (FDT) has captured significant attention in the crypto space, particularly regarding Justin Sun’s allegations. First Digital Trust has categorically refuted these claims, emphasizing that they pertain solely to TrueUSD (TUSD) and have no connection to its native stablecoin, FDUSD. According to the company’s official announcement, FDUSD is backed one-to-one by U.S. Treasury bonds, ensuring its integrity and traceability.
Furthermore, FDT’s statement asserts that these bonds are thoroughly documented within their attestation report, complete with International Securities Identification Numbers (ISIN). The firm characterizes Sun’s actions as a **coordinated smear campaign** aimed at undermining its market position rather than a legitimate dispute resolution. To safeguard its interests and uphold its reputation, First Digital Trust plans to pursue legal action. Additionally, the company is set to hold an AMA livestream on April 3, 2025, at 4:00 PM Hong Kong time, offering stakeholders further insights into the situation.
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