Justin Sun Accuses First Digital Trust of Misappropriating $456 Million
- Justin Sun claims First Digital Trust (FDT) misappropriated $456 million from TrueUSD (TUSD) reserves.
- FDT denies the allegations and plans to countersue, calling the claims defamatory.
- Sun alleges FDT’s insolvency with net liabilities of $13 million as of June 2024.
- Sun offers a $50 million reward for whistleblowers to provide information on the alleged misdeeds.
- FDUSD temporarily lost its peg to the dollar amid these allegations.
Justin Sun’s allegations against First Digital Trust involve a claimed misappropriation of $456 million in TUSD reserves, which FDT denies, labeling them defamatory and threatening legal action.
Source (2.6)https://hodl.press/justin-sun-welcomes-first-digitals-456m-tusd-lawsuit/?rand=24434
