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First Digital denies allegations of misappropriation of funds, saying it only acted on Techteryx instructions."

On April 3, First Digital issued another statement denying Sun Yuchen's allegations and any claim that FDT participated in the coordination plan or embezzled funds. It stated that FDT is only an intermediary that conducts transactions in accordance with the instructions of Techteryx and its authorized representatives. FDT does not and is not obligated to independently evaluate or provide recommendations on Techteryx's investments, and has never transferred or invested funds without express written instructions from Techteryx or its authorized representatives. All reserve assets are deployed strictly in accordance with written instructions provided by Techteryx and its authorized representatives at important times. We have all written instructions on record to prove it. Regarding the redemption of funds requested by Techteryx, ARIA expressed anti-money laundering/KYC regarding the acquisition transaction between TrueCoin and Techteryx and the identity of Techteryx's ultimate beneficial owner. As of today, Techteryx still refuses to disclose such information as requested by ARIA. It reiterated that the FDT remains fully solvent and that each FDUSD is backed by cash and cash equivalents on a 1:1 basis. The exact ISIN numbers of all reserves supporting FDUSD are clearly listed in our verification report, which is publicly available for verification. We are processing redemption requests as usual.

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