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Independent Auditors Confirm 1:1 Backing for First Digital’s FDUSD


Apr, 14, 2025
< 1 min read
by Peter Mwangi
for CoinEdition
FDUSD Reserves Verified To Exceed Circulating Supply
  • 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.

Read the article at CoinEdition

Read More

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USDe Operations Shift to BVI as Ethena Closes German Subsidiary

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MainNewsIndependent ...

Independent Auditors Confirm 1:1 Backing for First Digital’s FDUSD


Apr, 14, 2025
< 1 min read
by Peter Mwangi
for CoinEdition
FDUSD Reserves Verified To Exceed Circulating Supply
  • 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.

Read the article at CoinEdition

Read More

Noble Unveils AppLayer for Stablecoin Tool Development on Celestia

Noble Unveils AppLayer for Stablecoin Tool Development on Celestia

Noble plans to develop its blockchain platform through “AppLayer” which functions as ...
Apr, 16, 2025
2 min read
by TheNewsCrypto
USDe Operations Shift to BVI as Ethena Closes German Subsidiary

USDe Operations Shift to BVI as Ethena Closes German Subsidiary

Ethena Labs has officially pulled out of Germany and is no longer seeking MiCAR licen...
Apr, 15, 2025
< 1 min read
by CoinEdition