TechFlow, April 3 — According to an official announcement, Binance stated that following a recently completed audit, the stablecoin FDUSD has achieved 1:1 reserve backing. This means each FDUSD is fully backed by an equivalent amount of U.S. dollar assets.
First Digital Trust said that Justin Sun's recent allegations against First Digital Trust are completely false. The dispute concerns TUSD and has nothing to do with FDUSD. First Digital is fully solvent. Every dollar backing FDUSD is fully secured, safe, reliable, and documented through U.S.-backed treasury bills. This post is a typical defamation campaign by Justin Sun aimed at attacking his business competitors.
Previous report, Justin Sun claimed that FDT had gone bankrupt and was unable to fulfill customer fund redemptions.
