Tron(TRX) Stablecoin Controversy: Justin Sun Accuses First Digital Trust of $100M Deficit

In a recent development that has shaken the cryptocurrency world, TRON (TRX) founder Justin Sun has made serious allegations against Hong Kong-based financial institution First Digital Trust (FDT). The accusations center around a deficit of $100 million, casting doubts on the stability of FDUSD, a stablecoin issued by First Digital.

Justin Sun Accuses First Digital Trust of $100M Deficit

Tron founder Justin Sun has publicly accused First Digital Trust (FDT), a Hong Kong-based financial institution, of severe financial misconduct. FDUSD, a stablecoin from Hong Kong’s First Digital, recently dropped below its $1 peg due to concerns over its reserves, falling to $0.87 against USDT and $0.76 against USDC, before stabilizing around $0.98–$0.96. Sun claimed FDT, which manages TrueUSD’s reserves, is insolvent and urged users to secure their funds. FDT denied the claims, stating it is fully solvent and its assets are safe.

Bitcoin Crash Incoming? Why Experts Say $65K Is Possible

Bitcoin is under pressure, dropping to $81K as market uncertainty rises. After hitting $88K earlier this week, it’s now facing heavy selling, mirroring stock market turbulence after Trump’s tariff announcement. The altcoin market has taken a $50 billion hit, with ETH, SOL, and BNB struggling, while DOGE and TRX show slight recovery. Bitcoin is currently at $82K with a $39.45 billion trading volume. If it holds strong, $75,000 is within reach, and altcoins might follow with their own surges.

Justin Sun Offers $50 Million Bounty Over Alleged $500 Million Embezzlement by First Digital Trust

TRON founder Justin Sun has announced a $50 million bounty program to expose alleged embezzlement of $500 million by First Digital Trust (FDT), the issuer of the FDUSD stablecoin. In an April 4 statement, Sun revealed that the bounty represents 10% of the stolen funds and urged insiders to come forward. A dedicated portal, web3bounty.io, will track the investigation and reward process, ensuring full transparency. Sun emphasized that the mission goes beyond recovering funds, aiming to protect the integrity of the web3 ecosystem.