First Digital Trust Defends FDUSD Against Justin Sun’s Accusations: Financial Stability and Legal Action Ahead

On April 3rd, First Digital Trust issued a statement addressing recent allegations from Justin Sun, emphasizing that the dispute is confined to TUSD and does not pertain to FDUSD. They assured stakeholders that the company remains financially stable and possesses more than sufficient liquidity to meet all obligations. Each FDUSD token is fully collateralized by U.S. Treasury bonds, thereby prioritizing the safety of client funds. The organization has confirmed that its accounts are subject to audits, and all relevant reserve ISIN numbers are transparently detailed in their reserve report. Notably, 87 million FDUSD redemptions were seamlessly executed in the last 24 hours, which is indicative of robust market operations. This situation has been characterized by First Digital Trust as a malicious smear campaign orchestrated by Sun, aimed at disrupting the competitive landscape. The firm is prepared to pursue legal recourse to uphold its integrity and will host an online Q&A session on April 3, 2025, at 3 pm Hong Kong time to clarify further.