Latest FDUSD attestation report shows 1:1 backing

First Digital Labs has published a new certificate report confirming that his stablecoin FDUSD is entirely supported despite the accusations of the founder of Tron Justin Sun.

According to the report published On April 14, equal value reserves, which include more than $ 1.74 billion in American cash bills and $ 603 million in night buyback chords correspond to the first digital USDs (Fdusd) Total offer of 2.58 billion tokens. Additional assets include fixed deposits in several jurisdictions.

The company has reaffirmed that all FDUSD reserves are held in bankruptcy accounts and are never mixed with business funds. He added that more than a billion dollars of FDUSD have been exchanged to date without incident.

It comes a few days after Justin Sun accused First digital confidence to divert nearly $ 500 million from customer funds. According to Sun, the company, as well as a network of partners such as Aria DMCC, based in Dubai, deceived the stablecoin issuer to wire the funds of an unrelated entity. He claims that the money was reinstalled by a fraudulent address switch and partially deposited in a Hong Kong account called “Glass Door”.

Sun has appointed several individuals who would have involved and qualified the program as “major international financial fraud”, comparing it to a classic crypto portfolio. He also organized a livestream and met regulators of Hong Kong to present evidence. First Digital Trust denied all the accusations and responded by filing a defamation complaint before the High Court of Hong Kong.

The company is trying to prevent Sun from repeating statements and requires retraction and damage. Earlier this month, the controversy briefly lost the FDUSD to lose briefly, falling as low as $ 0.87. At the time of writing the editorial staff, Stablecoin was negotiated at $ 0.99 after recovery.

Emitted by FD121 Limited and supervised by First Digital Trust, FDUSD has gained ground as a regulated stablecoin supported by Fiat. It is currently available in Ethereum (Ethn), BNB channel (Bnb), Solana (GROUND), and sui (Sui).

As the legal dispute takes place, First Digital Trust said he would continue to publish regular certificates and work with independent companies to provide transparency in reserves.