PANews reported on April 3rd that First Digital issued a statement saying: "Regarding Justin Sun's recent false accusations against First Digital Trust, we hereby solemnly respond as follows:
1. The dispute only involves TUSD and is completely unrelated to FDUSD. First Digital's financial condition is stable and has full solvency.
2. Each FDUSD is fully guaranteed by US Treasury bonds, with funds secure, accounts traceable, and all reserve fund ISIN numbers clearly listed in our reserve report. (Within the past 24 hours, 87 million FDUSD have been redeemed smoothly, with bank redemption unobstructed and market prices stabilizing).
3. This is a typical smear campaign by Justin Sun aimed at attacking his business competitors. As we told CoinDesk reporters, we have not been given the opportunity to defend ourselves. The fact that Justin Sun did not resolve the TUSD issue through legal channels in three years precisely demonstrates its legal invalidity. Justin Sun has stepped outside the legal framework and launched a coordinated action on social media, attempting to damage FDUSD's commercial reputation and investors' interests, trying to destroy another project through public opinion.
4. First Digital Trust will take legal action to protect its rights and reputation, attach verification report links for verification, and will hold an online Q&A session on X Space at 3 pm Hong Kong time on Thursday, April 3rd, 2025."
