{"id":20374,"date":"2025-04-03T09:16:52","date_gmt":"2025-04-03T09:16:52","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=20374"},"modified":"2025-04-03T09:16:52","modified_gmt":"2025-04-03T09:16:52","slug":"fdusd-issuer-assures-funds-are-backed-11-to-pursue-legal-action-after-justin-suns-allegations-send-stablecoin-below-1","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=20374","title":{"rendered":"FDUSD Issuer Assures Funds Are Backed 1:1, To Pursue Legal Action After Justin Sun&#8217;s Allegations Send Stablecoin Below $1"},"content":{"rendered":"<div>\n<p>The team behind <strong>First Digital USD<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/\">FDUSD<\/a>) addressed concerns regarding financial stability Wednesday\u00a0after the dollar-backed stablecoin briefly depegged following allegations of insolvency by cryptocurrency entrepreneur <strong>Justin Sun.<\/strong><\/p>\n<p><strong>What Happened:<\/strong> <strong>First Digital <\/strong>confirmed that it has processed the initial redemptions following the FUD. It also assured that FDUSD is fully backed 1:1 and that their redemption channels are functioning smoothly.<\/p>\n<p><figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><\/p>\n<div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The first few redemptions after the recent FUD have been processed\u2014please refer to the on-chain burn transactions. <\/p>\n<p>FDUSD remains fully backed 1:1, and our redemption channels are operating smoothly. We will continue to process all redemption requests promptly.<\/p>\n<p>\u2014 First Digital (@FirstDigitalHQ) <a href=\"https:\/\/twitter.com\/FirstDigitalHQ\/status\/1907644502501896519?ref_src=twsrc%5Etfw\">April 3, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/div>\n<\/p>\n<\/figure>\n<p>The controversy erupted when <strong>Tron<\/strong> (CRYPTO: <a class=\"ticker\" href=\"https:\/\/www.benzinga.com\/quote\/trx\/usd\">TRX<\/a>) founder <strong>Justin Sun<\/strong> raised concerns about the company\u2019s solvency and its ability to honor client redemptions.<\/p>\n<p>\u201cI strongly recommend that users take immediate action to secure their assets. There are significant &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/25\/04\/44622834\/first-digital-assures-funds-are-backed-11-to-pursue-legal-action-after-justin-suns-allegations-send-fdusd-below-1\" alt=\"FDUSD\" issuer assures funds are backed to pursue legal action after justin sun allegations send stablecoin below>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The team behind First Digital USD (CRYPTO: FDUSD) addressed concerns regarding financial stability Wednesday\u00a0after the dollar-backed stablecoin briefly depegged following allegations of insolvency by cryptocurrency entrepreneur Justin Sun. What Happened: First Digital confirmed that it has processed the initial redemptions following the FUD. It also assured that FDUSD is fully backed 1:1 and that their [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-20374","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20374","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20374"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/20374\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}