In the crypto currency world, a new scandal was fired. Tron Founder Justin SunHe explained that the user funds were stolen by the First Digital Trust (FDT), the first Digital USD (FDUSD) exporter, one of the leading Coins of the Stablecoin market, and that this event was even more grave than FTX bankruptcy. According to Sun, FDT directly embezzled investors’ assets without any transparency, which pose a serious threat to Hong Kong’s financial reputation. Sun, both FTX and FDT As a name in his processes, he closely compared these two scandals. Stating that FTX had been contacted for rescue plans during the sinking process and that a similar situation took place in FDT, Sun said that this time as a techteyx consultant, TUSD took the role of “White Knight”.
FTX’s collapse and size of the FDT scandal
According to Sun, both events are too grave to shake the user confidence, but FDT, with unethical applications Ftxeven left behind. Although user funds are used in FTX without permission, these funds within the company Alameda research was shown as guaranteed by. Although there is no consent of users, some of the funds FTX TOKEN (FTT), Serum (SRM), Maps (Maps) was guaranteed by assets.
Tron’s founder FDT claimed that things were much darker than FTX. He claimed that the funds were directly embezzled without even the news of the users without any guarantee process. Noting that this is not a simple neglect, a planned and organized theft, Sun, FDT manager Vincent ChokDespite the emergence of scandal, he described his silence as great evil.
Sun also most of the funds in the FTX scandal Robinhood And Anthropic He stated that it was used as an investment in valuable companies such as, and that the funds were transferred to private companies and charming for personal earnings. This shows that the FDT incident is not only related to bad management, but also direct corruption.
Sun: “Hong Kong’s financial reputation is in danger”
Sun is not only users of the FDT scandal, Hong KongHe also stressed that he threatened his reputation as a global financial center. Reminding that the damage was partially controlled by the rapid intervention of US regulatory institutions in the FTX incident, Sun said that Hong Kong authorities should show a similar reflex.
Indeed, at the end of 2022, the FTX event was rapidly initiated for the FTX incident, criminals were detained and serious steps were taken for the extradition of user funds. Sun argued that if a similar judicial process is not operated in Hong Kong, the damage of the users will grow and the international financial reliability of the region will be seriously injured.
Sun’s call, “Hong Kong regulatory institutions should be activated without wasting time and initiate transactions about those responsible. Otherwise, such corruption becomes unpredictable, while investors’ confidence can be shaken for a long time,” he said.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
