First Digital: Sun Yuchen's accusations against FDT are unfounded, and the FDUSD reserves are safe and reliable

ChainCatcher news, the official publisher of FDUSD, First Digital Trust (FDT), stated on social media that the recent accusations by Justin Sun against First Digital Trust are completely false. This dispute only involves TUSD and is unrelated to FDUSD. First Digital is fully solvent.

The official statement claims that every dollar of FDUSD reserves is fully backed by U.S. Treasury bonds, which are safe, reliable, and fully traceable. The ISIN numbers of all reserve Treasury bonds have been clearly listed in the published verification report. This is merely a typical smear campaign by Justin Sun against a business competitor. Justin Sun initiated a coordinated attack on social media before the TUSD dispute entered judicial proceedings, attempting to undermine the business competitor FDUSD. First Digital will take legal measures to protect its rights and reputation.

First Digital Trust will hold an AMA live stream on the X platform at 4 PM Hong Kong time on April 3, 2025 (Thursday) to explain this incident.