Dubai Court Freezes $456M Linked to TrueUSD
Update: 2025-11-18
Description
Dubai Court Freezes $456 Million Linked to TrueUSDs Reserves: Aria Group, FDT, and Techteryx InvolvedA Dubai court has frozen $456 million linked to TrueUSDs reserves, following transfers into complex investment structures connected to the Aria Group. This move comes after the funds became illiquid last year, requiring an emergency bailout from Justin Sun. First Digital Trust (FDT), former custodian for TrueUSDs reserves, supports Techteryxs efforts to recover these funds from the Aria entities. The Dubai court has ordered Aria to provide information about these assets, while FDT was not directly involved in the case. The funds were allegedly moved to Aria Commodities DMCC in Dubai, where they became stuck in illiquid trade-finance positions. FDTs CEO, Vincent Chok, stated that his firm acted only as an intermediary and carried out all transactions as instructed by Techteryx. FDT is also pursuing a defamation case against Justin Sun.
The Daily News Now! — Every city. Every story. AI-powered.
Hosted on Acast. See acast.com/privacy for more information.
Comments
In Channel
Download from Google Play
Download from App Store
United States00:00
00:00
x
