Justin Sun-advised HTX plays games with its reserves
HTX, formerly Huobi, is an exchange deeply connected to controversial crypto entrepreneur and trader Justin Sun, and its activities raise concerns about solvency and Sun’s effective control of user assets. Ownership While Sun denies controlling HTX, he’s previously admitted to being an ‘advisor’ and the business itself has previously described him as its leader. Justin Sun and Huobi play shell game with ownership It appears that the acquisition of Huobi by About Capital Management in 2022 — a move that coincided with Sun’s appointment to the Huobi Global Advisory Board — marks the point at which his relationship with the exchange started to deepen. Even the rebranding of Huobi to HTX may have been connected to this change in ownership, with the former owners, New Huo Tech and HBIT, openly denying connections to Huobi online and threatening lawsuits against the exchange for continuing to use the name. Additionally, Sun has reportedl...