TechFlow news, April 3 — Sun Yuchen again posted on X accusing FDT: "First Digital Trust (FDT) is no longer able to meet its obligations to pay customer funds and is effectively insolvent. However, despite serious violations, the institution continues to operate in Hong Kong under the guise of a public trust. This case reveals apparent loopholes in Hong Kong's trust industry that can be exploited to circumvent financial and banking regulations. This not only poses risks to the public but also threatens Hong Kong's reputation as a global financial center. I strongly urge Hong Kong's regulatory and law enforcement authorities to take decisive action to close these loopholes and prevent further public losses."
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