Sun Yuchen: First Digital Trust is actually insolvent and calls on users to protect their assets as soon as possible

Sun Yuchen posted on social media that First Digital Trust (FDT) is in a de facto state of insolvency and unable to fulfill its obligation to redeem customer funds. He called on users to take immediate action to ensure asset security and pointed out significant loopholes in Hong Kong's trust licensing mechanism and financial regulation, urging regulatory and law enforcement agencies to intervene quickly. It will hold a press conference on April 3rd at 14:00 (UTC+8) to further disclose details.