Recent allegations from Justin Sun, founder of TRON, against First Digital Trust (FDT) have sparked a new scandal in the cryptocurrency world. Sun claims FDT has unlawfully taken user funds, posing a significant threat to Hong Kong's financial reputation.
Comparison with FTX Collapse
Sun points out that the situation with FDT is much more severe than the FTX collapse. He asserts that unlike FTX, where user funds were used without authorization but masked as collateral, FDT directly took customer funds without their knowledge. Sun condemns FDT’s management for their silence amid the scandal.
Threat to Hong Kong's Financial Reputation
Sun emphasizes that the FDT scandal threatens not only the users but also Hong Kong’s reputation as a global financial center. He recalls how U.S. regulators acted rapidly during the FTX incident, urging Hong Kong authorities to respond similarly.
Call to Action for Regulators
Sun urges Hong Kong regulators to act promptly against those responsible for the FDT situation, warning that if steps are not taken, corruption could spiral out of control and erode investor trust. 'Hong Kong regulators must act immediately and take action against those responsible,' says Sun.
The situation with First Digital Trust continues to develop, and its implications could significantly impact Hong Kong's financial landscape and user trust in the cryptocurrency market.
