Close Menu
  • Latest News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Meme Coins
  • DeFi
  • Tech
    • Blockchain
    • Security and Privacy
  • Web 3
    • Web3 News
    • Gaming
  • Legal
    • Taxes & Regulation
    • Adoption
  • Analysis
  • Learn
    • Education
    • Wallets and Exchanges
  • Tools
    • Market Overview
    • Converter
What's Hot

Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

July 29, 2025

Revolutionizing Data Access for Developers

July 29, 2025

American People Will ‘Pay the Price’ for GENIUS Act

July 29, 2025
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
Facebook X (Twitter) Instagram
Buy Crypto NewsBuy Crypto News
  • Latest News
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. Meme Coins
    5. View All

    Crypto Products Break Record As $11,200,000,000 of Monthly Inflows Hit Institutional Markets: CoinShares

    July 29, 2025

    Bakkt Sells Loyalty Business and Pivots to Pure-Play Crypto, Offers Shares

    July 29, 2025

    Trump Backs U.S. Crypto Boom: “Bitcoin Is Great for Our Country”

    July 28, 2025

    Asia Morning Briefing: Trump's E.U. Tariff Deal Holds Bitcoin Near $119K

    July 28, 2025

    Tether Abruptly Prints $8,000,000,000 in USDT on Ethereum (ETH) and TRON As Crypto Market Recovers

    July 29, 2025

    Is HashKey Capital About to Dump $47M Worth of Ethereum?

    July 29, 2025

    Ethereum Is About To Breakout Of Massive Consolidation Toward $5,000

    July 28, 2025

    6 mln ETH gone forever: Will shrinking supply fuel Ethereum’s $4K run?

    July 28, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025

    SUI and BNB Attract Over $1B Combined from Corporate Investors 

    July 29, 2025

    Finance Stock Explodes 353% As Company Announces New SUI Treasury Strategy

    July 29, 2025

    Ethereum: Holder accumulation slows, holders in profit soars – What’s next?

    July 28, 2025

    Pepe, BMT, CAKE: Crypto Activity Heats Up

    March 18, 2025

    SHIB Burns Over Half a Billion Tokens, Price Surges Over 7%

    March 17, 2025

    DOGE Sees Massive User Growth: Active Addresses Up 400%

    March 15, 2025

    Shiba Inu (SHIB) Price Analysis: Bullish Hints, Bearish Trend

    March 15, 2025

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    Revolutionizing Data Access for Developers

    July 29, 2025

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025
  • DeFi

    Delhi’s ‘Crypto queen’ arrested as India struggles with crypto scams and no regulations

    July 29, 2025

    Is Bitcoin losing momentum after failing to break $119K again?

    July 29, 2025

    Here’s why the Lista DAO token price is pumping

    July 28, 2025

    How much has the crypto Industry lost to scams so far in 2025?

    July 28, 2025

    Christie’s International Real Estate launches crypto division for high-end property sales

    July 28, 2025
  • Tech
    1. Blockchain
    2. Security and Privacy
    3. View All

    Revolutionizing Data Access for Developers

    July 29, 2025

    Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

    July 29, 2025

    CDARI Revolutionizes Web3 Shopping with Programmable Shopping Assets

    July 29, 2025

    China Industrial Bank Fast-Tracks AI-Driven Stablecoin Plan Amid Dollar Dominance Threat

    July 29, 2025

    Active Campaign Exploits Cloud Flaws for Cryptomining

    July 24, 2025

    Accounting Firm Targeted by Malware Campaign Using New Crypter

    July 22, 2025

    Grok refuses to pick winner for Crypto Rover competition citing ZachXBT pump and dump evidence

    July 21, 2025

    XRP trading volume soars as new ATH attracts deepfake scam targeting investors

    July 18, 2025

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    Revolutionizing Data Access for Developers

    July 29, 2025

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025
  • Web 3
    1. Web3 News
    2. Gaming
    3. View All

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    QCI Announces Acquisition of VizExplorer, Establishes Itself as A Data Activation Powerhouse and Fuels Growth with Expanded Product Suite

    July 29, 2025

    TalenAlexander CEO Jason Ramsey Launches Brand Therapy to Help Global Brands Achieve Strategic Growth

    July 29, 2025

    Binance launches RWUSD yield bearing stablecoin-like product offering 4.2% APR from RWAs

    July 28, 2025

    On-Chain Games Don’t Have a ‘Secret Sauce,’ YGG’s New Advisor Says

    July 28, 2025

    Top 5 Gaming Blockchains Set to Explode in the Next Bull Run

    July 28, 2025

    Off the Grid Skin Sale Volume Hits $30K as the Avalanche Shooter Hits OpenSea

    July 26, 2025

    Octo Gaming Teams Up with Starknet for Exclusive Rollup-Powered Game Launch

    July 25, 2025

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    Revolutionizing Data Access for Developers

    July 29, 2025

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025
  • Legal
    1. Taxes & Regulation
    2. Adoption
    3. View All

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    Senator Lummis says US is ‘waking up’ on crypto after historic legislative week

    July 29, 2025

    Tron Inc aims for $1B raise to bolster TRX reserves after merger boost

    July 29, 2025

    COINS Act Seen as Blueprint for India’s Web3 Future, Says Polygon Payments Head

    July 29, 2025

    Interactive Brokers weighs launching customer stablecoin to power 24/7 funding

    July 29, 2025

    Hyperscale Data begins executing $10M XRP plan, shares jump 12% amid announcement

    July 29, 2025

    PayPal’s “Pay with Crypto” opens new doors for 650 million users

    July 29, 2025

    The coming Bitcoin treasury bubble could rival the dot-com era with $11T of capital chasing BTC

    July 27, 2025

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    Revolutionizing Data Access for Developers

    July 29, 2025

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025
  • Analysis

    BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

    July 29, 2025

    Will Holders Trigger Strong Selloff?

    July 28, 2025

    Legendary Trader Peter Brandt Says One XRP Rival Could Become a ‘Rock Star,’ Unveils Massive Price Target for Silver

    July 28, 2025

    XRP Price Prediction For July 27

    July 27, 2025

    High-Net-Worth Investors Are Still Cautious on These Stocks – According to Fundstrat’s Tom Lee

    July 27, 2025
  • Learn
    1. Education
    2. Wallets and Exchanges
    3. View All

    What Is Tokenization?

    July 11, 2025

    What Are Internet Capital Markets? Why Companies Are Launching Meme Coins

    June 16, 2025

    What is a Corporate Bitcoin Treasury? The Strategy Behind Companies Holding Crypto

    May 27, 2025

    What Are Tokenized Real-World Assets? Putting Physical Value On-Chain With RWAs

    May 19, 2025

    MEXC finds that 67% of Gen Z crypto traders use AI tools, resulting in fewer panic sells

    July 26, 2025

    Ancient whale sells $8 billion Bitcoin via Galaxy as price dips to $115k

    July 26, 2025

    WOO X suffers $14 million breach affecting 9 users, halts withdrawals

    July 25, 2025

    FTX creditors to receive next round of payouts by Sept 30

    July 24, 2025

    Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

    July 29, 2025

    Revolutionizing Data Access for Developers

    July 29, 2025

    American People Will ‘Pay the Price’ for GENIUS Act

    July 29, 2025

    ‘We’ve not identified Dragonfly as a target’ – DoJ reverses course

    July 29, 2025
  • Tools
    • Market Overview
    • Converter
Buy Crypto NewsBuy Crypto News
Home»Blockchain»Justin Sun Calls Out Seven Sins by First Digital Trust
Blockchain

Justin Sun Calls Out Seven Sins by First Digital Trust

April 8, 2025No Comments2 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Justin Sun, founder of Tron, has recently made serious allegations against First Digital Trust (FDT), a custodian based in Hong Kong. According to Sun, FDT has misused over $500 million in TUSD assets through unauthorized transactions and concealed transfers.

In a detailed social media post on April 8, Sun outlined seven alleged breaches of law and fiduciary duty by FDT. He accused the custodian of diverting client funds to ARIA DMCC without proper consent, violating Hong Kong’s regulations on client money handling. Sun also claimed that FDT engaged in unlicensed investment activities through entities like ARIA, TrueCoin, and Crossbridge/Finaport, bypassing regulatory oversight and offering no transparency to clients.

Furthermore, Sun alleged that FDT falsified records to cover up the misallocation of client assets, potentially violating Hong Kong’s Theft Ordinance. He also raised concerns about money laundering through offshore structures and undisclosed commissions, which could trigger an investigation by the Independent Commission Against Corruption.

To address these issues, Sun launched a $50 million bounty program to recover the allegedly misappropriated TUSD funds. Whistleblowers are encouraged to submit leads through a dedicated portal, with rewards contingent on verified recovery outcomes. Sun emphasized that this initiative is not just about money but about seeking justice for the affected parties.

Comparing the FDT situation to the FTX collapse, Sun highlighted the lack of structure, collateral, and transparency in FDT’s actions. While FTX framed misuse of funds as collateralized loans, FDT allegedly moved funds offshore without proper disclosures.

If the allegations against FDT are proven true, the custodian and individuals involved could face criminal prosecution, civil liability, regulatory penalties, and the permanent loss of their license. The case raises broader questions about regulatory accountability in Hong Kong and the importance of safeguarding client assets in the digital asset industry.

See also  Saving vs Spending Crypto: What Are the Benefits of Saving and Spending Digital Money?

In conclusion, Justin Sun’s accusations against First Digital Trust underscore the need for transparency, compliance with regulations, and ethical conduct in the custodial and investment sectors. By shedding light on potential misconduct, Sun aims to protect investors and uphold the integrity of the financial system.

calls digital Justin Sins SUN Trust
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Revolutionizing Data Access for Developers

July 29, 2025

Bitcoin ETFs Log Third Day of Gains as Ethereum Inflows Hit 17-Day Streak

July 29, 2025

CDARI Revolutionizes Web3 Shopping with Programmable Shopping Assets

July 29, 2025

China Industrial Bank Fast-Tracks AI-Driven Stablecoin Plan Amid Dollar Dominance Threat

July 29, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Ethereum’s Q1 2025 outlook – Is ETH at the risk of being left behind now?

January 20, 2025

Binance Is Not Dumping SOL And ETH Through Wintermute

February 27, 2025

Putin signs law recognizing digital assets as property, exempting crypto mining and sales from VAT

December 3, 2024
Price Chart


Explore insights on crypto, blockchain, taxes, and security. Stay informed with expert guides, tips, and the latest trends to navigate the digital asset world confidently


We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Storage in Big Data Market Outlook 2024 to 2034: Growth Insights with Google Inc., Microsoft Corporation, Amazon Web Services Inc., VMware Inc., IBM Corporation, Dell EMC, SAS Institute Inc., Oracle Corporation, SAP SE, Teradata Corporation, Hewlett Packa

July 29, 2025

Revolutionizing Data Access for Developers

July 29, 2025

American People Will ‘Pay the Price’ for GENIUS Act

July 29, 2025
Get Informed

Subscribe to Updates

Get the latest creative news From BuyCryptoNews directly in your Inbox!

  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
© 2025 BuyCryptoNews - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.