Wintermute, a market maker, transferred more than $75 million FDUSD tokens back to First Digital after the stablecoin depegged to $0.87, following Justin Sun's insolvency claim against the issuer. This move signifies a potential $3 million arbitrage opportunity as FDUSD returned to its $1 peg.

Lookonchain highlighted Wintermute's strategic purchase of FDUSD at a discount and its subsequent redemption at full value. Despite these concerns, First Digital reassures users of FDUSD's full backing and solvency, disputing Sun's accusations.

S&P Global Ratings identifies potential weaknesses in FDUSD, while First Digital considers legal action over the bankruptcy allegations.