PANews reported on April 3 that First Digital issued a statement on social media, firmly denying Justin Sun's accusations against it, saying that the accusations were baseless and factually wrong. The statement emphasized that First Digital's stablecoin FDUSD is still fully backed by cash and cash equivalents 1:1, has sufficient solvency, and processes redemption requests normally.

First Digital pointed out that as an intermediary, it only executed transactions in accordance with the written instructions of Techteryx and its authorized representatives, and did not independently evaluate or recommend investment matters. In addition, the statement accused Techteryx and Justin Sun of trying to shift responsibility through false accusations and evade the obligation to manage reserves as the issuer of stablecoins. First Digital said it has sought legal advice and will take legal action to protect its rights and reputation.