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

On April 3, First Digital again issued a statement denying Sun Yuchen's allegations and denying any suggestion that FDT was involved in the coordination scheme or misappropriated funds. It said FDT was only an intermediary and traded on the instructions of Techteryx and its authorized representatives. FDT has not and is under no obligation to independently evaluate or advise on Techteryx's investments, and has never transferred or invested funds without explicit written instructions from Techteryx or its authorized representatives. All reserve assets are allocated strictly in accordance with written instructions provided by Techteryx and its authorized representatives at significant times. We have all written instructions on record as evidence.
With respect to the redemption requested by Techteryx, ARIA has expressed anti-money laundering /KYC regarding the transaction between TrueCoin and Techteryx and the identity of the ultimate beneficial owner of Techteryx. As of today, Techteryx has refused to disclose such information as requested by ARIA.
It reiterates that FDT remains fully solvent and each FDUSD is securely backed 1:1 by cash and cash equivalents. The exact ISIN numbers of all reserves backing FDUSD are clearly listed in our verification report, which is publicly available for verification. We are processing redemption requests as usual.