
Crypto India|Apr 02, 2025 17:25
🚨 Justin Sun & FDUSD drama explained:
> TUSD had 456M of reserves stuck in illiquid investments managed by First Digital Trust (FDT), creating a huge financial hole.
> Tron founder Justin Sun provided emergency funding to stabilize TUSD, despite claiming only an advisory role.
> TUSD accuses FDT of fraud, claiming it diverted 456M into unauthorized, illiquid assets instead of legit investments.
> Justin Sun now says FDT is insolvent, urging users to pull funds and calling for regulators to step in, escalating the fight.
> FDUSD, FDT’s stablecoin, depegged after Sun’s claims, with reports of an 8%+ drop, shaking user trust.
> FDT denies fraud in TUSD case, says it followed orders. Rejects Sun’s insolvency talk, claims FDUSD is solid, and hints at suing him.
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