- Huobi, a cryptocurrency platform, lists the FTX Users’ Debt Tokens (FUD).
- At the moment, one FUD is equivalent to one dollar.
- Crypto Twitter users express their opposition to token sales.
Huobi, a cryptocurrency trading exchange, has taken a big step forward for the crypto community by listing the FTX Users’ Debt Tokens (FUD). According to a recent tweet by Justin Sun, a Chinese crypto entrepreneur, the bond token represents the top-quality FTX debt asset.
Additionally, Justin Sun argues that the token offers a valuable new option for investors in the crypto world. As a result, new chances for investment and development are anticipated to emerge.
The FTX Users’ Debt Token (FUD) is a unique asset that provides a new level of stability and security to the crypto market. The bond token is backed by a high-quality debt asset, which means investors can be confident in its value and performance.
In a blog post, Huobi claimed that a contract created by DebtDAO had confirmed the debt’s tens of millions of dollars worth. Moreover, within the early bird issue period, FTX the debt will be issued at a reduced price.
In line with the post, there are 20 million FUDs in circulation, and one FUD is worth one dollar. Further, DebtDAO asserted in a tweet that it would produce extra tokens equivalent to the proven outstanding loan and distribute them to all FUD holders through an airdrop.
However, market participants on crypto Twitter have voiced their concerns against token sales. Crypto Twitter believes that FUD token sales could violate US securities laws and should be regulated.
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Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
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