AI Sector Token Downtrend Continues, Total Market Cap Falls to $21.48 Billion

On April 3rd, Justin Sun stated in his live streaming that, "In 2023, because FDT failed to pay the interest on the investment carried out by Techteryx, Techteryx appointed an independent professional team to start a comprehensive investigation into FDT. It was found that a large amount of entrusted customer funds had been misappropriated. Techteryx sought support from Justin Sun, and he provided assistance to Techteryx with his personal funds, ensuring that TUSD had sufficient liquidity to protect the interests of all TUSD holders."

On April 3rd, as per the monitoring of Spot On Chain, the Lazarus Group (North Korean hackers) sold 40.78 WBTC today that was purchased two years ago with a cost of $3.51 million. They made a profit of $2.51 million (+251%). They spent 99.99K USDT in February 2023 to acquire WBTC at a price of $24,521 and sold it 12 hours ago at a price of 1,857 ETH, with an average selling price of approximately $86,170.

On April 3rd, CoinEx has upgraded its Asset Reserve Ratio in order to enhance transparency and security to a greater extent. As of 08:00 (UTC) on March 31, 2025, the exchange maintains a 1:1 reserve ratio, and the CET reserve ratio has reached 122.3%. Major assets such as USDT, USDC, BTC, ETH, and DOGE all exceed 100%. CoinEx employs a Merkle Tree structure, enabling users to independently verify the assets they hold. Since 2017, CoinEx has always maintained a 100% reserve ratio to ensure asset security and has won the trust of the crypto community.

On April 3rd, Justin Sun, the founder of Tron, disclosed at a press conference that after providing funds to Techteryx's stablecoin TUSD, he found that financial institutions such as Hong Kong trust companies First Digital Trust Limited (FDT) and Legacy Trust Company Limited (Legacy Trust), as well as a private company in Dubai, had illegally misappropriated $456 million of fiat currency reserves of TUSD. Justin Sun stated that Vincent Chok, the CEO and director of FDT and Legacy Trust, had approved the illegal transfer of public assets, which had harmed public interests and damaged Hong Kong's reputation as a global financial center. Although Justin Sun himself provided funding assistance to TUSD from his own assets to ensure sufficient liquidity and safeguard the interests of all TUSD holders, the incident had exposed serious loopholes in the trust industry. He called on the Hong Kong regulatory authorities to severely punish the fraudsters and reform industry standards.

On April 3rd, Justin Sun stated during his live stream, "We possess more than 500 million US dollars in FDT, but we are unable to make a withdrawal. Their actions have already violated the law, and I believe that the court will render a fair judgment. I am confident that FDT is currently insolvent."

On April 3rd, Justin Sun stated in his live stream that he had called on FDT to hire a third-party auditing firm for an audit and said, "I believe that the audit results will demonstrate that FDT is already in a state of insolvency."