Binance Addresses FDUSD Reserve Concerns After Insolvency Accusations

Following a brief de-pegging incident related to First Digital USD (FDUSD), Binance has provided clarity regarding the reserve attestation for this stablecoin. In a recent blog post on April 3rd, Binance confirmed that an audit by Prescient Assurance revealed FDUSD held $2.05 billion in reserves as of March 1st, with these funds consisting of fixed deposits and U.S. Treasury instruments. This level ensures a 1:1 redemption with the US dollar.