According to H.E. Justin Sun, First Digital Trust (FDT) is reported to have a negative net asset value, indicating that its total liabilities exceed total assets, effectively rendering it financially insolvent. This situation raises concerns about FDT's ability to meet the stringent capital adequacy requirements mandated by international banking regulations, which are essential to avoid revocation of banking licenses.

According to H.E. Justin Sun, First Digital Trust (FDT) is currently experiencing negative equity, indicating its total liabilities surpass its aggregate assets, which is a sign of financial insolvency. This situation raises concerns about FDT's compliance with international banking regulations that enforce strict capital adequacy standards for financial institutions. Traders should be cautious as such financial instability could impact FDT's operational capabilities and market trustworthiness.

According to Hamster Kombat, Justin Sun has claimed that First Digital Trust is insolvent, which could impact investor confidence and trading activities related to the institution. Furthermore, Circle has officially filed for an Initial Public Offering with the SEC, a move that may influence Circle's valuation and trading volume in the cryptocurrency markets. Additionally, the HBAR Foundation has partnered with the OnlyFans founder's startup in a bid to acquire TikTok, which could have significant implications for Hedera Hashgraph's market positioning and trading strategies.

According to Justin Sun, a meeting with Hong Kong Legislative Council member Johnny Wu resulted in the reporting of an embezzlement case involving nearly $500 million of client reserve funds by First Digital Trust (FDT). Relevant materials have been submitted to regulatory and judicial authorities, highlighting significant implications for FDT's operational integrity and potential market impacts.

According to Justin Sun, he has reported a misappropriation case involving nearly $500 million of customer reserve funds at First Digital Trust (FDT) to Hong Kong authorities. He met with Hong Kong Legislative Council member Ng Kit Chuang, and submitted related materials to regulatory and legal authorities. Sun expressed confidence in the recovery of the funds and in holding the perpetrators legally accountable.

According to H.E. Justin Sun, First Digital Trust (FDT) is involved in a $500 million fraud case, which he attributes to systemic issues in Hong Kong's regulatory framework. This situation raises concerns about the reliability of financial institutions and regulatory oversight in the region, potentially impacting trader confidence and market stability in cryptocurrency investments. Sun's statement highlights a need for enhanced regulatory measures to protect investors and ensure market integrity. [Source: Twitter - H.E. Justin Sun]

According to Justin Sun, bad actors are posing threats to Web3 users and affecting public trust, which in turn could harm Hong Kong's reputation as a global financial center. He plans to address these issues on First Digital Trust, aiming to provide insights into safeguarding the ecosystem and maintaining trust in the market. This discussion is expected to be crucial for traders as it may influence market sentiment and regulatory perspectives in the region.

According to Justin Sun, First Digital Trust (FDT) is reportedly unable to fulfill client fund redemptions, indicating potential insolvency. Despite this, FDT continues to operate under a public trust in Hong Kong, highlighting potential regulatory loopholes. Traders should exercise caution due to these financial irregularities.

According to H.E. Justin Sun, First Digital Trust (FDT) is allegedly insolvent, urging those involved with the company to sever ties to protect their assets. This development could impact cryptocurrency trading volumes associated with FDT, and traders should carefully assess their exposure. Any legal consequences for its founder, Vincent Chok, remain to be determined by judicial authorities.

According to Justin Sun (@justinsuntron), First Digital Trust (FDT) is already insolvent, and stakeholders are advised to sever ties to protect their assets. This declaration highlights potential financial instability within FDT, impacting investor confidence and necessitating urgent risk management actions.

According to Crypto Rover, Justin Sun has declared that First Digital Trust is insolvent and has advised users to take immediate steps to secure their assets. This announcement may cause a decline in investor confidence and could lead to increased volatility in related crypto markets. Traders should monitor the situation closely for further developments.

According to H.E. Justin Sun (@justinsuntron), First Digital Trust (FDT) is reportedly insolvent and unable to fulfill client fund redemptions. Users are urged to take immediate action to secure their assets. This situation highlights significant issues in the trust licensing process, impacting the security of client funds. Traders should be cautious and assess the risk exposure to FDT-related assets.

According to Justin Sun, First Digital Trust (FDT) is currently unable to fulfill client fund redemptions, indicating effective insolvency. Sun advises users to take immediate action to secure their assets. He highlights significant loopholes in the trust licensing process in Hong Kong and internal risk management at FDT, which could impact trading operations and asset security (source: Justin Sun's tweet).