Binance sits to benefit from First Digital listing

First Digital Trust, the firm behind the FDUSD stablecoin, announced early last month that it had signed a business combination agreement that would result in it being publicly listed, with a closing expected next year. The announcement comes after the market capitalization of its flagship product, FDUSD, collapsed, losing over $4 billion since its peak in April 2024. Binance is in a good position to benefit from this public listing, as a Binance-related entity, Alphanest Holdings, is a major warrant holder in this firm. Alphanest is currently owned by Binance Holdings (IE) Limited and was previously owned by Binance founder Changpeng Zhao, who was recently released from prison. This warrant, if executed, will result in this Binance entity holding approximately one-quarter of the equity in this firm after the merger.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to Protos.