$FDUSD is a financial illiquid scamCRYPTOCAP:FDUSD is a financial illiquid scam
FDUSD (First Digital USD) is a reserve-backed stablecoin issued by a subsidiary of First Digital Limited, a Hong Kong-headquartered financial firm. Let’s delve into the details:
FDUSD Overview:
Introduced in June 2023, FDUSD aims to be backed by one U.S. dollar or an equivalent value asset held in reserves.
The issuer, FD121 Limited, is a subsidiary of First Digital Limited.
First Digital Trust Limited, another subsidiary, acts as the appointed custodian for FDUSD reserves.
Reserves are held in segregated accounts, ensuring no commingling with other assets.
The goal is to maintain a 1:1 backing of FDUSD with cash or highly liquid assets.
Audited Reserves:
FDUSD provides an “attestation of reserve” report audited by independent auditors.
This report demonstrates that the supply of FDUSD in circulation is fully supported by an equivalent value of cash or cash equivalents held in custody.
While FDUSD aims for stability, there are inherent risks:
Illiquid Assets: FDUSD’s reserves can vary from highly liquid to nearly illiquid assets.
Issuer Risk: There’s a risk that the issuer may fail to uphold stablecoin features, including nominal value and timely redemption at par
THE REAL PRICE OF FDUSD AT THE CURRENT HOUR is 25 cents for each 1 dollar 25 cents for each 1 dollar, they are under collateralized.
THIS MEANS: 1 CRYPTOCAP:USDT = 4 CRYPTOCAP:FDUSD OR 1 CRYPTOCAP:FDUSD = 0.25 CRYPTOCAP:USDT
EXIT BINANCE, DUMP FDUSD, CALL POLICE!.
