Justin Sun Warns of Major Fraud Allegations Against FDT, Raising Concerns for Hong Kong’s Financial Integrity

Cryptocurrency industry veteran Justin Sun has taken a strong stance against First Digital Trust (FDT), the issuer of FDUSD stablecoin. He alleges that FDT engaged in serious misconduct, potentially surpassing the FTX debacle in severity. Sun contends that FDT misused user funds without proper transparency or consent, jeopardizing Hong Kong’s financial standing. He criticizes FDT’s alleged direct theft of funds, drawing a stark contrast with FTX’s purported misuse for investment purposes.