FDUSDInsolvency
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đ¨ FDUSD Depegs Amid Insolvency Claims, Recovers to $0.98
#JustinSun alleged First Digital Trust (FDT) is insolvent, triggering an #fdusd depeg up to 13% on some platforms before recovering, ultimately settling around 5% lower and wiping $130M off its market cap.
#FDT denied the claims, stating FDUSD is fully backed by U.S. T-Bills, accusing Sun of a smear campaign. With conflicting statements, concerns over stablecoin transparency intensify.
FDT will hold an AMA on April 3 to address the issue. đ
Crisis or market manipulation? #FDUSDInsolvency
#JustinSun alleged First Digital Trust (FDT) is insolvent, triggering an #fdusd depeg up to 13% on some platforms before recovering, ultimately settling around 5% lower and wiping $130M off its market cap.
#FDT denied the claims, stating FDUSD is fully backed by U.S. T-Bills, accusing Sun of a smear campaign. With conflicting statements, concerns over stablecoin transparency intensify.
FDT will hold an AMA on April 3 to address the issue. đ
Crisis or market manipulation? #FDUSDInsolvency
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