According to breaking news, Justin Sun claimed that First Digital, the company behind the FDUSD stablecoin, is bankrupt and asked users to take the necessary precautions regarding their assets.
With the developments, the FDUSD price lost 3% of its value and fell to around $0.97.
It was recently claimed that the TUSD stablecoin made some low-liquid investments due to the brokerage company First Digital, and as a result, it was unable to make USD repayments for a period of time, and Justin Sun stepped in and saved TUSD in a sense.
Justin Sun blames First Digital for the situation and claims that First Digital customers’ withdrawals were not honored. The FDUSD price fell to $0.87 on Binance following the development.
*This is not investment advice.
