Snapshot 2025-02-28Published 2025-03-15Lag 15dSource Secondary SourceVerified 2026-08-03

FDUSD Reserve Attestation

First Digital Labs (FD121 Limited) — 2025-02-28

Engagement Details

Period Type: Monthly
Engagement Type: Examination
Standard: AT-C 205
Opinion: Unmodified
Practitioner: Prescient Assurance LLC
Assertion Party: Management of FD121 Limited

Reserve Summary

Total Reserves: $2,100,000,000
Circulating Supply: $2,050,000,000
Coverage Ratio: 102.44%

Composition

Category	Amount (USD)	%
U.S. Treasury Bills	$1,800,000,000	85.70%
Overnight Reverse Repo	$200,000,000	9.50%
Cash at Insured Depository	$100,000,000	4.80%

Custodians

First Digital Trust Limited

Scope Notes

Composition approximate. FDUSD had ~$2B+ supply in early 2025.

GENIUS Act Disclosure Checklist

Factual observations only. See methodology.

✓Monthly disclosure published
✓Examination-level engagement
✗Practitioner PCAOB-registered
✓Composition by category disclosed

Source

Primary source PDF ↗

Source quality: Secondary Source

How to Cite

Reserve Attestation Registry. "FDUSD Reserve Attestation — 2025-02-28." https://grantstell.com/attestations/first-digital-fdusd-2025-02 (retrieved 2026-08-03).