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On April 2, the stablecoin Fdusd briefly fell value After Justin SunThe founder of Tron
TRX
$ 0.2415
According to Sun, First digital had moved more than $ 450 million customer funds to a company in Dubai without permission. He also suggested that this transfer could have broken the financial rules in Hong Kong.
Sun reclaimed that the company was not being honest about its financial position. His statement raised questions about whether FDUSD was completely backed by real assets, as promised by First Digital.
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Despite these statements, First Digital says it is working as usual. Since the dispute began, the data shows that the company has processed almost $ 26 million in reimbursements. This means that users were able to change their FDUSD for US dollars without delay.
When this happens, the same amount of FDUSD is destroyed or “burns” in the block chain. This helps keep supply in line with real reserves.
In a April 3 in XFirst digital said: “We continue to process the channels without problems, demonstrating the Fdusd strength.” The company also made it clear that the stablecoin remains completely supported and can be exchanged at any time.
In addition, he responded to Sun’s comments by calling him “factically incorrect” and pointing out what he described as problems within the Sun’s Own network.
Meanwhile, a new meme currency called Wolf (Wolf) briefly reached a market capitalization of $ 42 million before blocking in more than 99% in just two days. As? Read the full story.
Having completed a master’s degree in economics, politics and cultures of the Oriental Asia region, Aaron has written scientific documents that analyze the differences between Western and collective capitalism forms in the era after World War II.
With about a decade of experience in the Fintech industry, Aaron understands all the most important problems and struggles facing cryptography enthusiasts. He is a passionate analyst who is concerned about data -based content and based on facts, as well as the one who speaks for both web3 natives and for the newcomers of the industry.
Aaron is the reference person for everything and anything related to digital currencies. With a great passion for blockchain & web3 education, Aaron strives to transform the space as we know it and make it more accessible to complete beginners.
Aaron has been summoned by multiple established means and is an author published. Even during his free time, he likes to investigate market trends and look for the next Supernova.
