FDT responds to Justin Sun's allegation: US$500 million TUSD transfer is based on Techteryx's request to invest in bulk commodities

PANews reported on April 9 that according to Bitcoin.com, the controversial stablecoin issuer First Digital Trust (FDT), recently responded to the allegations of Tron founder Justin Sun, saying that his transfer of more than $500 million in TUSD reserve funds to Dubai ARIA fund is implemented in response to the investment instructions of partner Techteryx. FDT said that the transfer of funds, which were characterized as "commodity investment", was completed in multiple transactions and disclosed the authorization letter signed by Techteryx on March 14, 2022 as evidence.

The letter shows that Techteryx executive Alex de Lorraine explicitly asked FDT CEO Vincent Chok to invest up to $200 million in ARIA commodities, and stressed that "if you have any questions, please contact us immediately." This move adds new clues to the ongoing dispute - Justin Sun, who was previously a consultant to Techteryx, accused FDT of misappropriating $456 million of custody funds without authorization and offering a reward of $50 million to recover stolen assets worldwide. Hong Kong Legislative Council members also warned that if the allegations are true, they would have serious consequences.

FDT issued a statement through social platform X in the early morning of April 8, not only refuting Sun Yuchen's "false allegations", but also disclosed screenshots of its cooperation agreement with Techteryx since 2021. It emphasizes that according to the custody terms, "we have no right to question the rationality of customer investment decisions", and the transfer operation fully complies with contractual obligations.