First Digital Trust Claps Back at Justin Sun's Allegations: "Completely Solvent!"

Hold onto your hats, crypto fans! First Digital Trust, the brains behind the FDUSD stablecoin, isn't mincing words after Justin Sun tried to throw shade their way. They're calling his allegations straight-up bogus and totally unrelated to their operations.

In a fiery statement on X, FDT made it crystal clear: "This dispute is with TUSD and not with $FDUSD. First Digital is completely solvent," they declared, not backing down from the drama.

And they didn't stop there. FDT doubled down, emphasizing that FDUSD is rock solid, backed by U.S. Treasury bills. They're not hiding anything either—reserve details are laid out for all to see in their attestation reports.

Justin Sun's Insolvency Claims: A Smear Campaign?

On April 2, Justin Sun dropped a bombshell, claiming First Digital Trust was drowning in debt after allegedly fumbling nearly $456 million in TrueUSD reserves. Talk about a plot twist!

Legal docs spilled the tea, revealing that the cash was supposedly funneled into shady investments. This forced Sun to step in with emergency funds to keep Techteryx afloat.

But FDT isn't taking this lying down. They fired back, "This is a typical Justin Sun smear campaign to attack a competitor," accusing him of trying to trash their rep through a coordinated social media blitz instead of letting the TUSD drama play out in court.

FDT isn't just talking the talk—they're walking the walk, reaffirming their solvency and the ironclad security of FDUSD reserves. They've got all the receipts too, with verifiable ISIN numbers to back up their claims.

And they're not done yet. The company is gearing up to throw down in court, ready to fight for their rights and reputation. Buckle up, folks—this crypto clash is far from over!