First Digital denies allegations of misappropriation of funds, stating that they only acted according to Techteryx's instructions

On April 3rd, First Digital once again issued a statement denying Sun Yuchen's accusations and any allegations of FDT participating in coordination plans or misappropriation of funds. It stated that FDT is merely an intermediary agency, conducting transactions according to the instructions of Techteryx and its authorized representatives. FDT has neither the obligation nor has it independently evaluated or provided advice on Techteryx's investments, nor has it ever transferred or invested funds without explicit written instructions from Techteryx or its authorized representatives. All reserve assets are strictly allocated according to the written instructions provided by Techteryx and its authorized representatives at crucial times. We have all recorded written instructions as evidence.

Regarding the fund redemption requested by Techteryx, ARIA has expressed anti-money laundering/KYC for the acquisition transaction between TrueCoin and Techteryx and the identity of the ultimate beneficiary owner of Techteryx. As of today, Techteryx still refuses to disclose such information as required by ARIA. It reiterates that FDT is still fully solvent, with each FDUSD being securely supported 1:1 by cash and cash equivalents. The exact ISIN number of all reserves supporting FDUSD has been clearly listed in our verification report, which is publicly available for verification. We are processing redemption requests as usual.