Justin Sun: FDT has fallen into insolvency and is suspected of fraud, calling on Hong Kong regulators to take decisive measures
Justin Sun once again accused FDT in a post on X: "First Digital Trust (FDT) has been unable to fulfill its obligation to redeem customer funds and is actually insolvent. However, despite the existence of serious violations, the institution continues to operate in Hong Kong under the guise of a public trust. This case illustrates that there seems to be significant loopholes in the Hong Kong trust industry that can be used to avoid financial and banking regulations. This not only poses a risk to the public, but also threatens Hong Kong's reputation as a global financial center. I strongly urge Hong Kong regulatory agencies and law enforcement to take decisive action to plug the loopholes and prevent further losses to the public."
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