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The Binance-backed stablecoin FDUSD dropped to $0.95 after Tron founder Justin Sun accused First Digital Trust of insolvency, claiming it couldn’t redeem client funds. The issuer denied the allegations, stating that FDUSD is fully backed by U.S. Treasuries and called Sun's statements a smear campaign. The stablecoin has since partially recovered to $0.97, but uncertainty remains.