PANews reported on April 9 that according to Bitcoin.com, the controversial stablecoin issuer First Digital Trust (FDT) recently responded to the accusations of TRON founder Justin Sun, saying that its transfer of more than $500 million in TUSD reserve funds to the Dubai ARIA Fund was carried out in response to the investment instructions of its partner Techteryx. FDT stated that these fund transfers, which were characterized as "commodity investments", were 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 me immediately." This move adds new clues to the ongoing dispute. Previously, Sun Yuchen, a consultant to Techteryx, accused FDT of misappropriating $456 million in escrow funds without authorization and offered a reward of $50 million for the global recovery of stolen assets. Hong Kong legislators also warned that if the allegations are true, there will be serious consequences.
In the early morning of April 8, FDT issued a statement through the social platform X, which not only refuted Sun Yuchen's "false accusations", but also disclosed screenshots of the cooperation agreement with Techteryx since 2021. It emphasized that according to the custody terms, "we have no right to question the rationality of the customer's investment decision" and the transfer operation fully complies with the contractual obligations.
