# Update on FDUSD Uncertainty and Relevant Guardian Activity

**URL:** <https://governance.aave.com/t/update-on-fdusd-uncertainty-and-relevant-guardian-activity/21669>\
**Category:** Risk\
**Created:** [April 2, 2025, 5:08pm UTC](https://governance.aave.com/t/update-on-fdusd-uncertainty-and-relevant-guardian-activity/21669 "2025-04-02T17:08:17Z")\
**Posts on this page:** 1\
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**Author:** ![LlamaRisk](https://dub1.discourse-cdn.com/flex013/user_avatar/governance.aave.com/llamarisk/32/12865_2.png) [@LlamaRisk](https://governance.aave.com/u/LlamaRisk)\
**Post date:** [April 2, 2025, 5:24pm UTC](https://governance.aave.com/t/update-on-fdusd-uncertainty-and-relevant-guardian-activity/21669/2 "2025-04-02T17:24:44Z")

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First Digital is actively responding to the allegations made by Justin Sun. They deny the allegation in this [Twitter post](https://x.com/FirstDigitalHQ/status/1907469378876215803). They have also responded by addressing the allegations in a recent Twitter Spaces.

 ![Screen Shot 2025-04-02 at 10.20.46 AM](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/d/dbff2b13af0589b40a9b940f1fddafeeef6b5bf2.jpeg)

The latest attestation report of fdUSD reserves is from February 28, 2025. They commit to monthly attestation reporting with an 18 day delay on each month’s reporting. There is a notable deficiency in the attestation reporting that they do not disclose the financial institutions where the reserves are held.

> **[67e12b28b3f2b0d908a162bc\_fdusd-attestation-2025-02-28-67dcd1b781dea.pdf](https://cdn.prod.website-files.com/675ab99bf1f7ea944d49a55b/67e12b28b3f2b0d908a162bc_fdusd-attestation-2025-02-28-67dcd1b781dea.pdf)**
>
> 576.94 KB

 ![Screen Shot 2025-04-02 at 10.18.04 AM](https://europe1.discourse-cdn.com/flex013/uploads/aave/original/2X/2/272340a4aea347468bb6ae59eab70c41ec0e823d.jpeg)

At this time we do not have clarity about the validity of the allegations made against First Digital’s solvency.

For more detailed risk analysis about fdUSD, LlamaRisk have conducted a comprehensive risk report on fdUSD here:

> **[Pegkeeper Onboarding Review: First Digital FDUSD - Llama Risk](https://www.llamarisk.com/research/pegkeeper-onboarding-fdusd)**
>
> DeFi Risk Specialists: Building Trust, Transparency, and Growth in Decentralized Finance

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