Justin Sun Declares First Digital Trust Insolvent, FDUSD Depegs as Binance Holds $1.67B

Justin Sun has announced that First Digital Trust (FDT), the Hong Kong-based issuer of the stablecoin FDUSD, is effectively insolvent and unable to fulfill client fund redemptions

By: DeepNewz •

Justin Sun Declares First Digital Trust Insolvent, FDUSD Depegs as Binance Holds $1.67B

Justin Sun has announced that First Digital Trust (FDT), the Hong Kong-based issuer of the stablecoin FDUSD, is effectively insolvent and unable to fulfill client fund redemptions

Loading this article…

Regulation Regulation Markets Markets Crypto Crypto

Our articles are stored on Filecoin.

Free newsletters

Good reporting. Delivered.

Choose your coverage: crypto and DeFi, the future of finance, or both.

Free. Unsubscribe anytime.

Justin Sun Declares First Digital Trust Insolvent, FDUSD Depegs as Binance Holds $1.67B

Good reporting. Delivered.

Most read

Kalshi and Coinbase Win Partial Illinois Ruling on Sports Contracts

Arbitrum Pauses New Stylus Activations in Emergency Security Action

NEAR Intents GM Says $3.8 Million in Hack Funds Returned in Full

Ethereum Foundation Introduces zkAPI for Private API Payments

Chainalysis Links $387 Million Bitget Hack to North Korea

Centrifuge Confirms Three Tokenized Funds Are Live on Arc