Huobi advisory board member Justin Sun announced the establishment of a 100 million USD Coin (USDC) liquidity fund after the abnormal price movement in Huobi Token (HT).
Justin Sun posted on his official social media account on March 10. in the shipmentIn order not to repeat similar events over the pump-dump experienced in Huobi local token HT after the lawsuit filed by New York against the crypto exchange KuCoin 100 million a USDC liquidity fund announced.
for what happened apologetic, Sun on the subject in their statements used the following terms:
We deeply apologize for the impact of leveraged liquidation caused by few users in the market. As a precautionary measure to reiterate this situation, we will establish a $100 million liquidity fund to improve the multi-currency liquidity of the Huobi Global platform.
Justin Sunby making a new post shortly after HT Token on the fund it has committed to Huobirequired to 100 million USDCthat the transfer has been made reported.
The said liquidity fund one after another experienced prevent liquidations And buyer-seller of balance acceptable It is thought that it will be used to ensure that it is kept at a level.