Justin Sun: FDUSD issuer is bankrupt and unable to meet redemption obligations
2025-04-02 15:33:29
Justin Sun posted on social media that First Digital Trust (FDT), the issuer of FDUSD, is effectively bankrupt and unable to meet its client fund redemption obligations. Users are strongly advised to take immediate action to protect their assets. Hong Kong's trust licensing process and the internal risk management of the financial system are both significantly flawed. Regulators and law enforcement have been urged to take swift action to address these issues and prevent further major losses. Hong Kong's reputation as a global financial center is in jeopardy, and similar incidents of financial fraud must never happen again.
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