Market makers’ blockchain transactions point to a potential $3 million arbitrage opportunity related to the depegging of the FDUSD stablecoin.
The First Digital US dollar-pegged stablecoin ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/first-digital-usd-price-index” rel=”null” target=”null” text=”null” title=”null”>FDUSD) depegged on April 2, after Tron founder Justin Sun claimed that the stablecoin issuer was insolvent.
Market marker Wintermute transferred over 75 million FDUSD tokens back to First Digital within a day since the stablecoin depegged to $0.87.
Source: data-ct-non-breakable=”null” href=”https://x.com/lookonchain/status/1907732546395451886/photo/1″ rel=”null” target=”null” text=”null” title=”https://x.com/lookonchain/status/1907732546395451886/photo/1″>Lookonchain
“Since $FDUSD depegged, #Wintermute has transferred 75M $FDUSD to First Digital Labs,” wrote…

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