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First Digital Labs has published a new certificate report confirming that his stablecoin FDUSD remains entirely supported by reserves, even if he faces accusations of fraud of the founder of Tron Justin Sun.
Released on April 14, the report indicates that the total supply of 2.58 billion FDUSD tokens is equal by equivalent reserves, including more than $ 1.74 billion in US treasury bills and $ 603 million detained in the aftermath of day.
Additional reserves are distributed on fixed deposits in several jurisdictions. The company stressed that all assets are stored in bankruptcy accounts, entirely separated from works funds.
First Digital Labs also noted that more than a billion dollars of FDUSD had been exchanged to date, without reported problems, which has obtained its assertion that Stablecoin works with full support and transparency.
The report followed by Recent allegations by Justin Sun, who said that First Digital Trust, the FDUSD supervising entity, was involved in the diversion of nearly $ 500 million.
Sun allegedly alleged that First Digital, in partnership with entities such as Aria DMCC, based in Dubai, misled the FDUSD issuer with wiring funds to an unrelated third party.
狸猫换太子: FDT （First Digital Trust） 与 Aria 的 5 亿美元盗窃案
在中国有个古老的传说 ， 一位心狠手辣的妃子为了谋取私利 ， 将刚出生的太子偷偷掉包为一只狸猫。这个典故如今被用作比喻 ， 用来形容那些通过暗中掉包、以假乱真达到非法目的的骗局。
而 FDT …
– Il Justin Sun
(@Justinsuntron) April 10, 2025
He said that the funds had been diverted through an altered portfolio address and partially deposited in a Hong Kong bank account named “Glass Door”.
Calling the incident of “major international financial fraud”, Sun shared the names of those who, according to them, were involved and presented its assertions in a live flow and during meetings with regulators of Hong Kong.
In response, First Digital Trust denied all allegations and filed a defamation complaint before the High Court of Hong Kong.
The company requests an injunction to prevent Sun from repeating complaints and pursues damages.
Earlier this month, the controversy briefly pushed FDUSD from his dollar ankle, which drops him as low as $ 0.87. He has since recovered and negotiated at $ 0.99 when writing the editorial’s time.
FDUSD, published by FD121 Limited and managed by First Digital Trust, is currently being supported in Ethereum, BNB Chain, Solana et Su.
The company says it will continue to publish regular certificates and collaborate with independent listeners to maintain transparency.
Last month, First Digital announced integration with Ledger Enterprise Tradelink to facilitate the colonies out of exchange.
The collaboration aims to serve global market manufacturers, institutional investors and asset managers by allowing them to use FDUSD for the trading of secure, compliant and efficient digital assets while keeping assets in detention.
Ledger’s Tradelink platform is designed to reduce counterparty risks and rationalize institutional settlement processes.
Before that, the company has teamed up with Fomo Pay, a main payment institution under license in Singapore and Hong Kong, to add the stablecoin among the payment solutions of Fomo Pay on Ethereum and Solana.
The fully sustained post-FDUSD STABLECOIN, indicates that the first digital laboratories in the midst of allegations of Justin Sun fraud appeared first on Cryptonews.