First Digital denies allegations, defends FDUSD reserves

First Digital Trust, issuer of FDUSD, responded to recent claims by Justin Sun, stating on X that the allegations are false and relate to TUSD, not FDUSD. The firm asserted it is fully solvent, with FDUSD backed by U.S. Treasury bills, as detailed in its attestation report. FDT accused Sun of a smear campaign and announced plans for legal action. An AMA is scheduled on X Spaces for April 3, at 8 a.m. UTC to address the issue.