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.