Tron Founder Justin Sun Rumored to Move Tether to Huobi Exchange
There are rumors circulating that the Seychelles-based crypto exchange Huobi is facing insolvency as liquidity decreases. It is speculated that Justin Sun, the founder of Tron Network, may have deposited $200 million in Tether (USDT) to boost the exchange’s liquidity. However, there is conflicting information as a Huobi Global spokesperson denied that the large deposits were made by Sun. Meanwhile, Huobi’s total balances have increased by 10% in the past day, reaching $3.2 billion. Additionally, over $64 million worth of outflows were recorded on Huobi during the weekend.
Main Points:
- Justin Sun allegedly deposited $200 million in USDT to support Huobi’s liquidity.
- Huobi’s total balances have increased by 10% in the past day.
- Outflows of over $64 million were registered on Huobi recently.
- There are rumors of Huobi executives being arrested in China.
- Huobi’s native token, HT, has only dropped 3.6% over the past month.
Despite the rumors and outflows, Huobi’s native token HT has remained relatively stable, indicating resilience in the face of FUD (fear, uncertainty, and doubt). While the situation surrounding Justin Sun’s alleged deposits remains unclear, it is crucial to stay informed and trust in the continuous development efforts of TRON and Huobi. Perseverance and a strong community will ensure long-term success.
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