First Digital Belief has denied Justin Solar's claims of liquidity points, saying it's a part of "smear marketing campaign."
Information
The First Digital US-dollar pegged stablecoin (FDUSD) depegged on April 2 following claims of insolvency from Tron community founder Justin Solar, who mentioned that the issuer of the tokenized fiat equal, First Digital, is bancrupt.
First Digital responded to the claims by assuring customers that the issuer is totally solvent and mentioned that the dispute is with TrueUSD (TUSD), one other stablecoin. The agency wrote in an April 2 X post:
"Each greenback backing FDUSD is totally safe, protected and accounted for with US-backed Treasury Payments. The precise ISIN numbers of all the reserves of FDUSD are set out in our attestation report and clearly accounted for."
First Digital additionally indicated they'd be taking authorized motion in opposition to Solar for making the claims on social media.
FDUSD loses its greenback peg following on-line claims. Supply: CoinMarketCap
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