First Digital Trust has filed a defamation lawsuit against Justin Sun in the High Court of Hong Kong regarding his allegations of the company being "insolvent." The lawsuit seeks an injunction to restrict Sun from making similar statements, as well as a retraction statement and compensation for damages. The allegation previously caused First Digital's issued stablecoin, FDUSD, to briefly de-peg on April 3, but it has since recovered. Sun subsequently held a press conference in Hong Kong, continuing to accuse the company of fraud and calling for regulatory reform. The case number is HCA 680, and the date for the preliminary hearing has not yet been set. (CoinDesk)

First Digital Trust has filed a defamation lawsuit against Justin Sun in the Hong Kong High Court regarding his allegations of being "insolvent." The court has been requested to issue an injunction to restrict Sun from making similar statements, as well as to publish a retraction and compensate for damages. These allegations led to a brief de-pegging of the stablecoin FDUSD issued by First Digital on April 3, which has since been restored. Following this, Sun held a press conference in Hong Kong, continuing to accuse the company of fraud and calling for regulatory reforms. The case number is HCA 680, and the date for the preliminary hearing has not yet been determined. (CoinDesk)

First Digital sues Justin Sun for defamation