First Digital USD (FDUSD) Review
Binance global's zero-fee USD reference, decimated by April 2025 depeg (-85% from peak)
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FDUSD is the Binance global reference USD stablecoin, issued by FD121 Limited (custodied by First Digital Trust, Hong Kong). Market cap collapsed ~85% from a $2.5B peak in early 2025 to ~$397M in May 2026 after the April 2 2025 depeg triggered by Justin Sun allegations of FDT insolvency. The Hong Kong High Court defamation case (HCA 680, filed April 9 2025) remains unresolved. Delisted from Binance EEA on March 31 2025 in the MiCA non-compliant batch. Reserves attested monthly by Prescient Assurance: $457.88M net assets vs $456.14M tokens at January 2026.
Active traders on Binance global who want to use zero-fee FDUSD pairs (BTC/FDUSD, ETH/FDUSD, SOL/FDUSD renewed January 29 2026). Market makers benefiting from Binance maker incentive volume counting.
You're an Italian or EEA retail user — FDUSD has been delisted from all MiCA-licensed CASPs. You want a stablecoin without the HCA 680 legal overhang. You need broad cross-exchange liquidity beyond Binance global.
Estadísticas rápidas
- Ticker
- FDUSD
- Issuer
- FD121 Limited (First Digital Labs)
- Peg
- USD
- Backing
- fiat collateralized
- Market cap
- $397M
- Chains
- 5
- Attestation
- monthly
- Fiat redeem
- Yes
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Auditors / attestors
- · Prescient Assurance LLC (monthly attestations)