FDT否认贾斯汀·孙破产指控，并表示其稳定的股份得到了美国财政账单的完全支持

Sun在当天早些时候在社交媒体帖子中提出了指控，他说该公司无偿偿债，无法处理其稳定的FDUSD的赎回。

First Digital Trust (FDT) has denied claims by Tron founder Justin Sun that the firm is insolvent and unable to process the redemption of its stablecoin.

First Digital Trust（FDT）否认了Tron创始人Justin Sun的主张，该公司贾斯汀·孙（Justin Sun）表示该公司无力偿债，无法处理其稳定的赎回。

Earlier today, Sun made the allegations in a social media post, where he said the firm was insolvent and unable to process the redemption of its stablecoin, FDUSD.

今天早些时候，Sun在社交媒体帖子中提出了指控，他说该公司无力偿债，无法处理其稳定的股份公司FDUSD的赎回。

The news caused FDUSD to break its peg and fall as low as $0.8726. It has since partially recovered to $0.9870.

这一消息导致FDUSD打破了钉子，下跌高达0.8726美元。此后，它已部分收回至$ 0.9870。

The incident has also raised questions about the stablecoin’s solvency, the transparency of its issuer, and potential systemic implications for Binance, which holds a significant amount of the asset.

该事件还提出了有关稳定币的偿付能力，发行人的透明度以及对二元公司的潜在系统性的疑问，后者拥有大量资产。

Insolvency allegations

破产指控

First Digital emphasized that the dispute involves TrueUSD (TUSD), not FDUSD, and asserted that all FDUSD reserves are fully backed and verifiable through US Treasury Bills.

首先，数字强调的是，争议涉及Tureusd（TUSD），而不是FDUSD，并断言所有FDUSD储备金都是通过美国国库账单充分支持和可验证的。

The company added that the specific ISIN numbers for the reserves are documented in its attestation report. However, the TUSD issuer claims that FDT allegedly misplaced roughly $500 million in TUSD into bad investments.

该公司补充说，储量的特定ISIN编号已在其证明报告中记录。但是，TUSD发行人声称，据称FDT将大约5亿美元的TUSD放错了投资中。

First Digital Trust added:

第一个数字信托添加了：

“Every dollar backing $FDUSD is completely, secure, safe and accounted for with US backed T-Bills. The exact ISIN numbers of all of the reserves of FDUSD are set out in our attestation report and clearly accounted for.”

“每美元支持$ fdusd都是完全，安全，安全的，并且在我们支持的t-bills上都可以解决。所有FDUSD储备金的确切ISIN数字都在我们的认证报告中列出，并清楚地考虑了。”

The firm labeled Sun’s statements as a “typical Justin Sun smear campaign to try to attack a competitor to his business.” It said that rather than allowing the legal dispute over TUSD to proceed in court, Sun had launched a “coordinated social media effort to try to damage FDUSD as a business competitor.”

该公司将Sun的陈述标记为“典型的Justin Sun Smear运动，试图攻击竞争对手的业务”。它说，Sun并没有允许TUSD的法律纠纷在法庭上进行，而是发起了“协调的社交媒体努力，试图损害FDUSD作为商业竞争对手”。

First Digital Trust said it would pursue legal action to protect its rights and reputation. The company also plans to hold an “Ask Me Anything” (AMA) event on X on April 3, right after Justin Sun’s own AMA.

First Digital Trust表示，它将采取法律行动以保护其权利和声誉。该公司还计划在贾斯汀·孙（Justin Sun）自己的AMA之后于4月3日举行“问我任何东西”（AMA）活动。

Tron founder Justin Sun’s public statement urging users to withdraw assets tied to First Digital Trust was the primary catalyst for the depeg.

Tron创始人贾斯汀·孙（Justin Sun）的公开声明敦促用户撤回与第一数字信托有关的资产是DEPEG的主要催化剂。

He said:

他说：

“There are significant loopholes in both the trust licensing process in Hong Kong and the internal risk management of its financial system. I urge regulators and law enforcement to take swift action to address these issues and prevent further major losses.”

“香港的信托许可程序和其金融体系的内部风险管理都有重大漏洞。我敦促监管机构和执法部门采取迅速行动来解决这些问题并防止进一步的重大损失。”

Sun added that Hong Kong’s reputation as a global financial center was at stake in this case.

Sun补充说，香港作为全球金融中心的声誉在这种情况下受到威胁。

Binance exposure under scrutiny

在审查下二手暴露

According to Coinbase head of product business operations Conor Grogan, Binance holds about 94% of the FDUSD supply. This amounts to around $2.2 billion, with $1.5 billion originating from user deposits and $700 million from corporate funds.

根据Coinbase产品业务运营主管Conor Grogan的说法，Binance约有94％的FDUSD供应。这总计约22亿美元，其中15亿美元来自用户存款，而公司资金的7亿美元。

He added that the FDUSD/BTC pair is historically the most traded on the platform, making the depeg event a significant operational concern.

他补充说，FDUSD/BTC对在历史上是该平台上交易最多的，使DEPEG活动成为一个重大的运营问题。

AP Collective founder Abhishek Pawa noted that FDUSD’s role within Binance’s infrastructure expanded rapidly after the platform began distancing itself from the Binance USD (BUSD) in early 2023.

AP Collective创始人Abhishek Pawa指出，FDUSD在该平台于2023年初开始远离Binance USD（BUSD）之后，在Binance的基础设施中的作用迅速扩展。

That move came in response to US regulatory pressure when the Securities and Exchange Commission (SEC) and NYDFS labeled BUSD, issued by Paxos, a potential unregistered security.

当证券交易委员会（SEC）（SEC）和NYDFS标记为BUSD（由Paxos发行）时，这一举动是对美国监管压力的回应。

Binance gradually phased out BUSD incentives, trading pairs, and promotional campaigns, shifting liquidity toward alternatives such as FDUSD, USDT, and TUSD.

Binance逐渐消除了BUSD激励措施，交易对和促销活动，将流动性转移到了FDUSD，USDT和TUSD等替代方案。

The FDUSD crisis marks a stark contrast to the controlled wind-down of BUSD. Unlike BUSD, which was issued by a US-regulated entity, FDUSD was positioned as a more compliant alternative aligned with Hong Kong’s regulatory framework.

FDUSD危机与BUSD受控的降雨形成了鲜明的对比。与由美国监管的实体发行的Busd不同，FDUSD定位为与香港监管框架保持一致的更合规的替代方案。

Binance integrated FDUSD deeply into its ecosystem, making its sudden instability more damaging in both reputational and operational terms.

Binance将FDUSD深入到其生态系统中，从而使其突然的不稳定在声誉和操作术语中更具破坏性。

According to Abhi, while Binance’s FDUSD reserves reportedly maintain a 111% collateralization, the event has nonetheless cast doubt on the asset’s liquidity and redemption mechanisms.

根据Abhi的说法，尽管据报道，Binance的FDUSD储备金维持了111％的抵押品，但该事件仍然对资产的流动性和赎回机制产生了怀疑。

He added that the FDUSD’s instability also reopens regulatory questions for Binance. After the BUSD debacle, the platform emphasized its renewed commitment to compliance and transparency.

他补充说，FDUSD的不稳定性还重新打开了对二元的监管问题。在BUSD崩溃之后，该平台强调了其对合规性和透明度的重新承诺。

However, the current episode may prompt renewed scrutiny of its due diligence and risk assessment practices, particularly regarding third-party stablecoin issuers.

但是，当前的发作可能会促使人们对其尽职调查和风险评估惯例进行审查，尤其是第三方Stablecoin发行人。