<ul><li>First Digital Trust (FDT), a tech-driven financial institution in Hong Kong, is reportedly insolvent and unable to cover its obligations.</li><li>Justin Sun, a prominent figure in the Tron ecosystem, has warned of FDT's insolvency and called for swift regulatory action.</li><li>Following the announcement, FDUSD, a fiat-backed stablecoin associated with FDT and supported by Binance, depegged and dropped in value.</li><li>Binance co-founder, Yi He, clarified that Binance is taking measures to ensure customer safety and address the situation.</li></ul>

Stablecoins Associated with First Digital Trust (FDT) Temporarily Depegs as Justin Sun Warns of Company’s Insolvency

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