According to the last minute development, the FDUSD team, which lost its stability at $1 and fell to $0.87 and has partially recovered to $0.9887 at the time of writing, has released an official statement.
Here is the official statement from the FDUSD team:
Justin Sun's latest allegations against First Digital Trust are completely false.
This dispute is about TUSD, not FDUSD. First Digital is completely financially sound.
Every dollar supporting FDUSD is fully accounted for in safe, secure, and U.S.-backed securities. The full ISIN numbers for all of FDUSD’s reserves are listed and clearly accounted for in our attestation report.
This is a typical Justin Sun smear campaign, trying to attack someone who is a competitor to his business. As we told CoinDesk, we have not yet had the opportunity to defend ourselves, and rather than allow the TUSD matter to be taken up in court, Justin has instead resorted to a coordinated social media effort to try to harm FDUSD as a commercial competitor.
FDT will take legal action to protect its rights and reputation.
*This is not investment advice.
