TRON (TRX) founder Justin Sun has come under great criticism after the FUD token, which stands for “FTX Users Debts”, was listed on Huobi.
DebtDAO, the decentralized organization that aims to help users with debts from bankrupt crypto companies, made a statement on February 4 on its Twitter account. in sharing, FTX’s Users’ Debt (FUD) announced that the token named will be released. After this statement, Justin Sun stated that he would support the token in question, and FUD Token 5th of February Listed on Huobi.
Objections to FUD
The choice on the name of the token has drawn the backlash of the cryptocurrency community. Users who commented on both DebtDAO and Sun’s post on the subject said that the name FUD is also in the market. “fear, uncertainty and doubt” reminded me of it.
several lawyers The comments from the others were harsher. of this project would violate securities laws The lawyers who stated that the token cannot distribute all the receivables equally. calling the project “awful” described.
1 Dollar Said Reached 200 Dollars
Justin Sun on Twitter in sharing that the FUD will be released at 1 dollar and that the value it should be 1 to 5 dollars stated that. But within minutes of the huobi listing to the level of 200 dollars reached. The token, which subsequently experienced a significant retreat, was at the time of writing the news. from $58he’s dealing.
About the subject explanation Sun said that FUD represents the best of FTX debt assets and will benefit everyone in the crypto world:
FUD Token Huobi It is a clear indication that the crypto industry is moving in a positive direction. FUD The demand for the token is a sign of confidence in the market and a vote of support for a positive attitude towards crypto.
Airdrop on FUD Token
According to DebtDAO’s statement, its initial supply 20 million units at the price of 1 dollar Launched as the FUD, FTX’s entire debt to users %2represents the .
In the statement made by DebtDAO, when the actual debt of FTX was confirmed more tokens will be produced and FUD holders of additional tokens airdrop It was stated that it would be distributed via Also, FUD By providing a new level of liquidity to FTX creditors this will allow users to buy and sell their FTX debts on the open market.
According to DebtDAO’s rules, users with a FUD coin prior to the secondary public offering will be eligible for the airdrop. 2 FUD will take more. After Airdrop DebtDAO for users with FUD 1:1 debt back will make the purchase.