#NavigatingAlpha2.0 👀 Binance: according to the latest audit, FDUSD is backed 1:1

In a statement from the exchange, it is noted that the reserves of the stablecoin as of March 1, 2025, amounted to $2.05 billion — they are held in U.S. Treasury bonds and overnight deposits. This amount exceeds the total number of issued tokens, thus maintaining the 1:1 peg to the dollar.

At the same time, Justin Sun stated that First Digital Trust (FDT) is unable to return funds to clients, and the company has effectively gone bankrupt. He emphasized that despite this, FDT continues to operate in Hong Kong as a public trust:

"It seems that there are obvious loopholes in Hong Kong's trust industry that allow for circumventing financial and banking regulations, as seen in the case of FDT. This not only creates risks for the general public but also undermines Hong Kong's reputation as a global financial center."

P.S. According to PeckShield, 87 million FDUSD have been burned in the last 24 hours.

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