FDUSD seems to be recovering after yesterday’s depeg.

The stablecoin dropped 9% after Justin Sun (TRX founder) accused its issuer of insolvency. First Digital denies the claims and says the Techteryx lawsuit isn’t related to FDUSD. We unpack the entire situation here: https://auriccrypto.com/stable/fdusd-stablecoin-suffers-depeg-following-justin-suns-solvency-warning/

#TrueUSD, one of the many stablecoins connected to Chinese crypto scammer & Donald Trump business partner #JustinSun, received a half billion dollar bailout from... Justin Sun when it couldn't get its capital out of First Digital, another chinese #moneylaundering company that runs a stablecoin #FDUSD that is used for most trading on #Binance.

> "In September 2024, #TrueCoin and #TrustToken (the #stablecoin's owners before #Techteryx) settled with the #SEC over allegations they falsely marketed TrueUSD as fully dollar-backed while secretly investing reserves in risky offshore funds."

https://protos.com/justin-sun-bailed-out-500m-stablecoin-tusd-report/

Swiss regulator forces crypto-friendly FlowBank into bankruptcy - The Swiss-based bank had ties to the TrueUSD stablecoin issuer, Techtery... - https://cointelegraph.com/news/swiss-crypto-flowbank-forced-bankruptcy-after-banking-failures #swissfinancialmarketsupervisoryauthority #stablecoinreserves #bankingservices #compliance #coinshares #techteryx #flowbank #finma