First Digital Responds to Justin Sun’s Insolvency Claims

First Digital Trust (FDT) has refuted allegations of insolvency levelled against it by Justin Sun, CEO of Tron, regarding the TrueUSD stablecoin. FDT claims the dispute is unrelated to FDUSD and clarifies that the controversy is specifically with TrueUSD issuer TUSD. The firm emphasizes its solvency, highlighting the fully backed U.S. Treasury bills backing FDUSD and transparency in reserve details via attestation reports. The statement also notes that it will be pursuing legal action against Sun’s smear campaign.

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