First Digital Trust (FDT) has issued a strong statement via social media refuting accusations made by Tron founder Justin Sun. The company specifically clarifies that the dispute is only related to TUSD and is completely separate from FDUSD (First Digital USD). 💰 🔐
FDT emphasizes the security and transparency of its FDUSD, which is backed by US Treasury bonds. They also highlight successful FDUSD redemptions totaling $87 million in the past 24 hours, confirming smooth banking operations and stable market prices. 📈,
The company contends that Sun’s claims are unfounded and intended to damage a competitor. FDT emphasizes a lack of legal action over the past three years regarding TUSD matters, suggesting weak legal basis for Sun’s allegations. 📃 ⚖️
FDT vows legal action to protect its reputation and investors, while offering an audit report as proof of transparency. 🙌
To address investor concerns, FDT will host a public Q&A session on X Space at 3:00 PM April 3rd.
This situation adds fuel to the ongoing debate in the stablecoin industry’s competitive climate.
*Disclaimer: This is not investment advice.