The First Digital US-dollar pegged stablecoin, FDUSD, has depegged following allegations of insolvency made by Tron network founder Justin Sun. In response to these claims, First Digital Trust asserted that it is solvent and accused Sun of attempting to smear their reputation. The company emphasized that every dollar backing FDUSD is secure, referencing US-backed Treasury Bills as reserves and providing ISIN numbers in their attestation report. Additionally, First Digital announced intentions to pursue legal action against Sun for disseminating potentially harmful statements on social media. This situation highlights the ongoing volatility and scrutiny surrounding stablecoins amid market uncertainties.

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