Independent Auditors Confirm 1:1 Backing for First Digital’s FDUSD
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- FDUSD reserves exceed circulation, confirming full 1:1 backing with U.S. dollar.
- Independent Hong Kong firms verify FDUSD’s liquidity and asset segregation.
- $500M embezzlement claims emerge despite FDUSD’s latest attestation report.
Hong Kong-based crypto custodian First Digital Labs shared its latest report showing its FDUSD stablecoin remains fully supported by cash or similar holdings. The report, for the period ending March 31, 2025, repeated a 1-to-1 exchange promise with the U.S. dollar.
Related: FDUSD Defies FUD with $170M Inflow Against Trend of Major Crypto Outflows
First Digital stated FDUSD had $2.588 billion in tokens active at March’s end. The company held $2.597 billion in backing assets, about $9 million more than the active supply. First Digital also noted users cashed out nearly $1 billion FDUSD since it started…
The post Independent Auditors Confirm 1:1 Backing for First Digital’s FDUSD appeared first on Coin Edition.
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