In the world of cryptocurrency, rumors often lead to chaos, as demonstrated in the recent Justin Sun lawsuit controversy, where rumors pointed at TUSD as the target, not FDUSD.
Clarification by He Yi
Binance co-founder He Yi took to X to explain that the lawsuit concerning Justin Sun specifically targets TUSD, not FDUSD. This clarification is crucial to understanding the dynamics of the current stablecoin market and alleviating unwarranted panic over FDUSD.
The Background Issue
Concerns began when FDUSD temporarily lost its peg to the USD, triggering questions about its stability. Justin Sun expressed concerns regarding First Digital Trust's ability to return funds, which only heightened fears.
Confusion Between TUSD and FDUSD
The complexity stems from the custodial relationship between TUSD and FDUSD, where TUSD reserves are managed by First Digital Trust. This led to the misconception that the lawsuit also impacts FDUSD.
He Yi's clarification dispelled confusion, confirming the lawsuit specifically targets TUSD, thus ensuring confidence in FDUSD among investors.
