Will's Blog: FDUSD stablecoin depegs 9% after Justin Sun raises concerns over Hong Kong-based First Digital Trust's solvency; Binance alone holds ~$2.2B worth of FDUSD (Daniel Kuhn/The Block)

2 April 2025

FDUSD stablecoin depegs 9% after Justin Sun raises concerns over Hong Kong-based First Digital Trust's solvency; Binance alone holds ~$2.2B worth of FDUSD (Daniel Kuhn/The Block)

Daniel Kuhn / The Block:
FDUSD stablecoin depegs 9% after Justin Sun raises concerns over Hong Kong-based First Digital Trust's solvency; Binance alone holds ~$2.2B worth of FDUSD — - Justin Sun is warning users to pull funds from First Digital Trust, a Hong Kong-based firm once employed by TrueUSD's owner Techteryx as a fiduciary.

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