FDUSD Issuer Completes First Redemption After Depegging… FDUSD Fully Collateralized 1:1
Suehyeon Lee
Summary
- First Digital Trust (FDT) announced the completion of the first redemption of FDUSD.
- FDT stated that the redemption details are verifiable on-chain and explained that FDUSD maintains a fully collateralized 1:1 state.
- Despite the depegging caused by Justin Sun's concerns, the redemption channels are operating smoothly.
The issuer of the stablecoin FDUSD, First Digital Trust (FDT), announced that it has completed its first redemption following the depegging event.
On the 3rd (local time), FDT stated on X, "We have completed the first redemption following the recent FUD. All burn details related to this redemption are verifiable on-chain."
They further explained, "FDUSD maintains a fully collateralized 1:1 state, and the redemption channels are operating smoothly." Previously, Justin Sun, the founder of TRON (TRX), raised concerns about FDT's ability to redeem funds, leading to a drop in FDUSD and the occurrence of depegging.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
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