$FDUSD Drops to $0.87 Amid Justin sun rumors about Bankruptcy Crisis – Volatility at Its Peak!
What’s Happening?
FDUSD (the stablecoin pegged to the US dollar) has faced a sharp downturn after Justin Sun’s announcement about the bankruptcy of the entity behind it. FDUSD dropped to a low of $0.87 in the past few minutes and is now trading at $0.96. This is a drastic deviation from its usual peg and a significant cause for concern in the market.
Market Impact:
$BTC and $ETH might feel the ripple effects as this instability spreads.
⚠️ If FDUSD continues to struggle, we could see further market reactions, especially from leveraged positions and stablecoin holders.
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