Shidharth Vijay
@lulidao60
📉#TUSD Justin Sun has accused First Digital Trust of managing TUSD’s $501 million reserve while refusing to process redemptions. He further alleged that FDT is actually bankrupt and unable to return customer funds. FDT, which also issues FDUSD — a stablecoin supported by Binance — cited AML/KYC concerns and doubts about the ultimate beneficial owner's identity as reasons for the refusal. Following the controversy, FDUSD briefly lost its peg by more than 5%.
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