Following a brief de-pegging event that sparked concerns, Binance has confirmed the accuracy of FDUSD’s reserves for February. The company conducted a thorough review of the reserves twice, first after releasing the initial attestation report and again recently to ensure their integrity. 2.05 billion USD in reserves are currently held in FDUSD, according to the audit conducted by Prescient Assurance, exceeding the stablecoin’s circulating supply and guaranteeing a 1:1 redemption with US dollars. 💥 🚨 🔒 💰. The update comes after Tron (TRX) founder Justin Sun accused First Digital Trust, the issuer of FDUSD, of insolvency, leading to a temporary peg drop and ensuing panic selling that caused the price to plunge down to $0.87 before recovering. Sun’s accusations fueled calls for regulatory action and criticized Hong Kong’s financial system, prompting investors to seek refuge by withdrawing their funds. 💰 🚫 💨 However, FDUSD’s issuer refuted Sun’s claims as deceptive, stating that they are fully backed and the issue is unrelated to other stablecoins. FDT has also threatened legal action against Sun for a smear campaign. Binance, which holds a significant stake in FDUSD (about 94%), has been closely monitoring the situation and conducted another review following the next attestation report due within two weeks. ⏳ The exchange remains committed to ensuring FDUSD’s stability, despite fears about potential single-stablecoin risk for critical trading pairs. 📈 🔎 💰