<ul><li>Hong Kong-based First Digital Trust stablecoin, FDUSD, experienced a loss of its peg after Justin Sun claimed the company was insolvent.</li><li>Binance holds approximately 94% of the total FDUSD supply, which raised concerns following the depegging incident.</li><li>First Digital Trust defended the stability of FDUSD, stating it is fully backed by US Treasury bills.</li><li>The event has sparked concerns about Binance's exposure to FDUSD, with approximately $2.2 billion of the stablecoin tied to user deposits on the exchange.</li></ul>

First Digital Trust Denies Insolvency Claims by Justin Sun, Defends FDUSD Stablecoin Stability

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