$FDUSD , a stablecoin, is facing big problems as its price has dropped below $1. This happened after Tron’s founder, Justin Sun, said that the company behind FDUSD First Digital Trust, might be in financial trouble. After this news, FDUSD's price fell to $0.89, and many traders started selling their coins. A big trading firm, Wintermute, also withdrew millions of FDUSD from Binance. This crash even caused Bitcoin’s price to suddenly jump to nearly $99,000 on Binance’s FDUSD trading pair.
Now, people are wondering if FDUSD will recover or completely fail, like the Terra-Luna stablecoin did in 2022. Binance had already delayed FDUSD’s launch earlier due to technical issues, which made investors even more doubtful. Right now, FDUSD is trading at around $0.97, still below its $1 value. If the company behind FDUSD can fix the issue and regain trust, the price may go back to normal. But if people continue to lose confidence, FDUSD could collapse completely. The next few days will decide what happens next.
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