9 hours ago
In a connection to CoinDesk, FDT's Vincent Chok said his institution "welcomes immoderate steps that assistance Techteryx successful pursuing betterment of its funds from the Aria entities."
Nov 18, 2025, 12:49 a.m.
With a Dubai court freezing $456 million tied to TrueUSD’s reserves, First Digital Trust said it backs Techteryx’s effort to retrieve the funds aft they became illiquid successful 2023 pursuing transfers into analyzable concern structures associated with the Aria Group, a shortfall that required an exigency bailout from Justin Sun to support the stablecoin running.
"We invited immoderate steps that assistance Techteryx successful pursuing betterment of its funds from the Aria entities," First Digital's Vincent Chok said successful an email to CoinDesk. "We recognize the Court has ordered Aria to supply disclosure regarding the assets, and we look guardant to seeing the results of that process."
FDT was not a enactment to the lawsuit successful Dubai.
The transportation betwixt FDT and Aria stems from FDT’s erstwhile relation arsenic fiduciary custodian for TrueUSD’s reserves, which it held connected behalf of Techteryx.
As CoinDesk reported earlier this year, Techteryx said it instructed FDT to spot the funds into the Aria Commodity Finance Fund, a Cayman Islands vehicle. Court filings successful Hong Kong aboriginal alleged that astir $456 cardinal was alternatively transferred to Aria Commodities DMCC, a abstracted Dubai-based Aria entity, wherever the assets became tied up successful illiquid trade-finance positions.
The tribunal bid from Dubai's Digital Economy Court froze these funds.
FDT CEO Vincent Chok told CoinDesk the steadfast acted solely arsenic a fiduciary intermediary and executed each transactions precisely arsenic instructed by Techteryx and its representatives.
Separately, FDT continues to pursue a defamation case against Sun, who, successful April, claimed that the trustee is "effectively insolvent," which caused FDT's stablecoin, FDUSD, to go concisely unpegged.
"There are nary nationalist updates to stock astatine this stage," Chok told CoinDesk.
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