First Digital denies Sun Yuchen's allegations: FDUSD reserves are fine, will take legal action

According to Foresight News, First Digital Trust has released a statement stating that "Sun Yuchen's recent accusations against First Digital Trust are completely false. This dispute is related to TUSD and not FDUSD. First Digital is fully capable of paying. Every dollar that supports FDUSD is fully, securely, and reliably accounted for by US backed Treasury bills. The exact ISIN numbers of all FDUSD reserves are listed in our certification report and clearly documented. This is a typical smear campaign by Sun Yuchen, aimed at attacking his competitors in the business. As we told CoinDesk reporters, we have not had the opportunity to defend ourselves yet. Sun Yuchen did not resolve the TUSD issue in court, but instead resorted to coordinated social media activities in an attempt to damage FDUSD's position as a business competitor. FDT will take legal action to protect its rights and reputation It stated that an AMA will be held on Thursday, April 3rd at 4 pm Hong Kong time in X space to discuss the issue.