FDUSD has denied all allegations made by Justin Sun, calling them completely false and misleading. According to their statement

FDUSD has denied all allegations made by Justin Sun, calling them completely false and misleading. According to their statement:

⚫The issue concerns TUSD, not FDUSD.
⚫First Digital Trust remains fully solvent.
⚫All FDUSD reserves are backed 1:1 by U.S. Treasuries, with verifiable ISINs listed in their certification reports.
⚫FDUSD labeled Sun’s remarks as a coordinated smear campaign against a competitor.
⚫The company plans to take legal action to protect its rights and reputation.

First Digital Trust serves as the custodian for both TUSD and FDUSD and is headquartered in Hong Kong.