FDUSD stablecoin depegs 9% after Justin Sun raises concerns over First Digital's solvency
Legal
• April 2, 2025, 12:12PM EDT
UPDATED: April 2, 2025, 12:52PM EDT
Quick Take
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.
The comments come after CoinDesk reported that Techteryx filed a lawsuit against First Digital CEO Vincent Chok after the firm redirected nearly half a billion dollars worth of TUSD reserves into illiquid investments.
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