FDT files defamation lawsuit against Justin Sun

First Digital Trust (FDT) has filed a defamation lawsuit against Justin Sun after the TRON founder stated recently that the Hong Kong crypto custodian and FDUSD stablecoin issuer was insolvent. According to CoinDesk, the first step in the defamation suit, the summons, was filed late last week. The company is seeking an injunction from the Hong Kong High Court to restrain Sun from making any further statements. The date of the first court hearing has not yet been set. Sun said via X that he welcomes any legal process. FDUSD de-pegged after Sun raised concerns about FDT's financial health.