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Justin Sun Accuses First Digital of Bankruptcy

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by Giorgi Kostiuk

21 hours ago

Justin Sun revealed the bankruptcy of First Digital, causing market concerns. FDUSD's price dropped following the news.

Justin Sun's Statement

Justin Sun announced the bankruptcy of First Digital, the company behind the FDUSD stablecoin. He urged users to take necessary precautions to protect their assets.

Justin Sun claims that First Digital is bankrupt. Users should exercise caution.Justin Sun

Market Reaction

Following the announcement, FDUSD's price fell by 3%, reaching around $0.97. On Binance, FDUSD dropped to $0.87.

Role of TUSD and First Digital

Previously, it was reported that due to poor investments by First Digital, the TUSD stablecoin faced temporary issues. Justin Sun intervened to stabilize TUSD, accusing First Digital of failing to honor customer withdrawals.

The situation with First Digital has impacted the stablecoin market. Investors should closely monitor developments to mitigate risks.

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