New explanation came from Justin Sun, the Founder of Tron (TRX) in the FDUSD crisis!

Tron (TRX) Founder Justin Sun, FDUSD The First Digital Trust (FDT), the exporter behind the Stablecoin, is a rival stablecoin Tusd’ti He accused of regulating a large -scale fraud, which includes the abuse of supporting reserve assets.

In a detailed statement on social media, Sun compared FTT’s alleged bad behavior with the famous collapse of FTX and described the FDT scandal as “significantly worse”.

According to Sun, FDT pulled 456 million dollars from TUSD’s storage reserves without informing customers and then separated the funds as a “suspicious third party” based on the Dubai -based loan. Sun claims that the money trail has made a laundering activities and an effort to spend money on a coordinated embezzlement, and says that it has risen to a crime level.

Although FTX’s founder Sam Bankman-Fried (SBF) has recently been convicted of its role in the abuse of customer funds, Sun claims that FDT’s actions were even more terrible. Stating that the SBF shows at least the tokens such as FTT and SRM as collaterals for loans and investing in important companies such as Robinhood and Artificial Intelligence attempt Anthropic, Sun claimed that FDT has carried the funds to fraudulent assets without any transparency or security.

Sun also underlined the differences in the reactions after the crisis: SBF cooperated with the authorities and law teams to get the user assets back, while the FDT’s leadership remained silent and unconcerned.

Sun warned that the resulting situation pose a threat of damaging its reputation as a financial center of Hong Kong. During the FTX collapse, Sun reiterated the stable steps taken by the US authorities and called for an emergency regulatory intervention.

“Hong Kong should act quickly, determined and effectively like US colleagues. We cannot allow fraudsters to maintain their Pyramid plans against the people,” he said.

Sun’s statement also revealed that he was used for financing support during both FTX and FDT crises. While refusing to save FTX because of the scale of his collapse, he said in the FDT case that he had to support the losses of user losses as a consultant of Techteryx, a company associated with the TUSD ecosystem.

Although the price of the FDUSD has not been able to fully earn its constant in the moments of this article, it is close to $ 0.9953 and $ 1.

*It is not an investment advice.