The first digital recovers 26 million dollars after Fdusd Depeg, rejects the calls of Sun Asolvency

First Digital replaced nearly $ 26 million in Stablecoin withdrawals after you briefly lost the FDUSD code for linking the US dollar after insolvency allegations by the founder of Tron Justin Sun.

First USD digital (FdusdDegegged on April 2, briefly fell to $ 0.87 after Sun claimed that the first digital was affected.

On April 4, Sun doubled under Based on his allegations, on the pretext that the company has transferred more than $ 450 million from customer boxes to an entity based in Dubai and that it violated the Hong Kong Securities.

“FDT has transferred 456 million dollars from its guardians to a private company in Dubai without authorizing them and the money has not yet returned,” he claimed.

Despite the claims, Blockchain data from ETHERSCAN He appears First Digital has honored $ 25.8 million in FDUSD recoverys since the accident.

“We are still handling the recovery processes smoothly, which indicates the stability of $ FDUSD,” I noticed First Digital on April 3 x mail.

When the FDUSD users return for US dollars, the corresponding amount of FDUSD is burned on Onchain for Stablecoin to keep linking 1 to 1 with the US dollar and ensure the circulating supply reserves.

Related to: Winter has been transferring $ 75 million FDUSD since Depegs, with an opportunity to arbitrate $ 3 million

After Sun’s claims, the first digital users confirmed that it is a solvent and that FDUSD is still fully supported and refundable.

“The first fixed digital parking: Justin Sun will not be undertaken by the baseless Techteryx – StableCoin Fdusd is still fully supported and solved,” mentioned First Digital on April 3 x mail.

Related to: Bitcoin price can reach $ 250,000 in 2025 if the Federal Reserve turns to QE: Arthur Hayes

Stablecoin Depeg “The Big Risks” of Bitcoin crash

Depegs Stablecoins are “greater systemic risks” to encryption than Bitcoin (Bitcoin (Bitcoin (Bitcoin) (Bitcoin (Bitcoin)BTCCrash, where “Stablecoins is an integral part of liquidity, Defi and User Trust,” according to GlyCy Chen, CEO of Bitget.

“

“Current transparency, quality of guarantees and accountability between prominent exporters in Stablecoin is insufficient – Tether’s lack of full audits, USDC exposure to banking risks and algorithm stablecoins shed light highlighting the market weakness at the next Depeg event.”

“To mitigate the risk, the market must implement the actual time audits, determine the priorities of high -quality guarantees such as US Treasury bonds, enhance organizational control and diversify the use of Stablecoin to reduce dependence on a few dominant players,” Chen added.

In May 2022, 40 billion dollars Terra The ecosystem collapsed, erasing tens of billions of value in days. Terrausd (UST) Terra algorithm has resulted in an annual percentage of more than 20 % (APY) on the anchor protocol before its collapse.

When the UST lost the dollar’s connection, it decreased to the lowest level in about $ 0.30, Co -founder of TerraForm Labs Do Kwon Take to X (then Twitter) to share its own rescue plan. Meanwhile, the value of the sisterly code – once the best 10 encryption projects by market value – decreased more than 98 % to $ 0.84. Luna was trading in a value of $ 120 in early April 2022.

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