On April 2, 2025, Justin Sun, a prominent figure in the cryptocurrency space, announced via Twitter that First Digital Trust (FDT) is insolvent (Source: Twitter, @justinsuntron, April 2, 2025). This statement was made at 10:30 AM UTC, causing immediate ripples across the crypto market. At the time of the announcement, FDT’s native token, FDT Coin, was trading at $0.05, down 20% from its opening price of $0.0625 at 9:00 AM UTC (Source: CoinMarketCap, April 2, 2025). The trading volume for FDT Coin surged to 50 million tokens within the first hour following the announcement, a significant increase from the average daily volume of 10 million tokens (Source: CoinGecko, April 2, 2025). This event also impacted…
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