BREAKING NEWS: FDUSD Price, Which Should Be Pegged at $1, Is Falling – Justin Sun Makes a Statement

The FDUSD price has taken a hit, falling to around $0.97, after Justin Sun claimed that First Digital, the company behind the FDUSD stablecoin, is bankrupt .

Sun advised users to take necessary precautions regarding their assets. However, the FDUSD team has released an official statement denying Sun's allegations, stating that First Digital is financially sound and every dollar backing FDUSD is fully accounted for in safe, secure, and U.S.-backed securities .

The dispute seems to be centered around TUSD, another stablecoin, rather than FDUSD. The FDUSD team has also announced that they will take legal action to protect their rights and reputation.

The situation is still unfolding, and it's essential to keep an eye on further developments.

In the meantime, here are some key points to consider:

FDUSD Price: The stablecoin's price has fallen to around $0.97 .

Justin Sun's Statement: Sun claimed that First Digital is bankrupt and advised users to take precautions .

FDUSD Team's Response: The team denied Sun's allegations, stating that First Digital is financially sound.

Legal Action: The FDUSD team has announced that they will take legal action to protect their rights and reputation .