Binance confirms FDUSD reserves are accurate after a brief de-pegging event
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Binance has reaffirmed the accuracy of First Digital USD (FDUSD) reserves following a brief de-pegging event caused by Justin Sun's accusations of insolvency. As of March 1st, FDUSD had $2.05 billion in reserves, exceeding the stablecoin's circulation. The stablecoin temporarily dropped to $0.87 but has since stabilized around $0.99, with Binance owning 94% of its supply.
April 03, 2025 | 3:45 am
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NEUTRAL IMPACT
Binance's FDUSD situation underscores ongoing challenges in stablecoin reliability and market trust.
While not directly involved, Coinbase as a major crypto exchange might experience market sentiment spillover from stablecoin instability.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 50