FDUSD Issuer Sues Tron Founder Justin Sun for Defamation

First Digital Trust (FDT), the issuer of stablecoin FDUSD, has filed a defamation lawsuit against Tron founder Justin Sun.
FDT reportedly filed a summons last week to sue Son for defamation. FDT has also filed a banning order against Son in the Hong Kong High Court.
Sun said on Twitter that he welcomed any legal proceedings. Previously, Sun had raised concerns about FDT's ability to repay its reserves.
As a result, the price of FDUSD, which is linked to the dollar, fell below $1, causing depegging.