A wallet thought to belong to Tron founder Justin Sun has transferred 200 million USDT to Huobi.
While the news flows on Huobi continue, the reserve issue continues to remain on the agenda. The other day, Adam Cochran reported that Huobi was unable to meet its client assets and was on the verge of bankruptcy. It is noteworthy that Huobi has a reserve of less than 100 million despite the 600 million USDT requirement.
After all these processes, a move came from Justin Sun. According to WuBlockchain, Sun sought to strengthen reserves by transferring 200 million USDT to Huobi.
Justin Sun is trying to protect the Huobi reserves!
Amid the allegations against Huobi, the transfer took place from a crypto wallet thought to belong to Justin Sun. This wallet transferred 200 million USDT to Huobi.
According to a report by WuBlockchain, Sun’s wallet has withdrawn 200 million USDT from JustLend and transferred it to bora. Thus, the exchange’s USDT reserve rose to 285 million. However, according to Adam Cochran’s posts, Huobi still has a deficit in client assets.
The wallet address marked as Justin Sun (TT2T17KZhoDu47i2E4FWxfG79zdkEWkU9N) withdraws 200 million USDT from JustLend and deposits it into Huobi. Huobi’s USDT reserves have also increased from around $85 million to the current $285 million. Recently, due to the investigation of…
— Wu Blockchain (@WuBlockchain) August 8, 2023
The hardening of the allegations and the subject of investigation also increase the withdrawal on Huobi. Many crypto users continue to withdraw their assets from Huobi. However, Justin Sun announced that there is no problem in the stock market and they continue to move forward in line with their vision. Also, Sun stated that all these situations are FUD.
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