On April 3, First Digital Trust (FDT), the issuer of FDUSD, officially stated on social media that recent allegations by Justin Sun against First Digital Trust are completely false. This dispute only involves TUSD and has nothing to do with FDUSD. First Digital has full solvency.

The official statement claimed that each dollar of FDUSD reserves is fully backed by US Treasury bonds, which are secure and fully traceable. The ISIN numbers of all reserve Treasury bonds have been clearly listed in the published verification report. This is merely a typical smear tactic by Justin Sun against a commercial competitor. Justin Sun initiated a coordinated attack on social media before the TUSD dispute entered legal proceedings, attempting to undermine the commercial competitor FDUSD. First Digital will take legal measures to protect its rights and reputation.

First Digital Trust will hold an AMA live broadcast on the X platform at 4 PM Hong Kong time on Thursday, April 3, 2025, to explain this matter.