First Digital releases a new transparency report: nearly 1 billion FDUSD have been redeemed to date
Golden Finance reports that First Digital has released a new transparency report, disclosing the total supply of FDUSD tokens: 91,975,825.91 on the BSC chain and 2,328,524,138.71 on the Ethereum chain. The dollar balance in reserve accounts is at least equal to or greater than $2,588,088,088.17. First Digital reiterates that customer assets are completely segregated from the company's own funds; these assets will not be mixed or used to satisfy any third-party claims against FDT's balance sheet. FDUSD can be redeemed at a ratio of 1:1 and nearly one billion have been redeemed so far. Previously, Sun Yuchen published "The Seven Sins" of First Digital Trust (FDT), pointing out violations of fiduciary duties, misuse of customer funds, breaches of anti-money laundering obligations, as well as false declarations or concealment behaviors.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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