According to Cas Abbé, Justin Sun announced a lack of backing for the FDUSD stablecoin, leading to its depegging and a 13% drop. Consequently, the BTC/FDUSD pair saw an unusual surge, reaching $99,000. This event indicates a significant impact on the cryptocurrency market, emphasizing the importance of verifying backing for stablecoins to maintain market stability.

According to The Kobeissi Letter, President Trump's World Liberty Financial has announced the launch of a new stablecoin named USD1, which is backed by short-term US government treasuries, US dollar deposits, and other cash equivalents. This development is significant for traders as it introduces a stablecoin with a robust backing mechanism, potentially increasing investor confidence and offering a new option for stable trading pairs in cryptocurrency exchanges.