Will Huobi Go Bankrupt? Tron Founder Responds to Outstanding FUD News by Citing Binance CEO as an Example!

Under rumors that Huobi will lay off 20% of its employees and face bankruptcy Huobi exchange token HT Founded by Justin Sun, who is on the Huobi advisory board, Tron (TRX) and the stablecoin of the network USDD experienced declines.

Confirming the dismissals in the face of these decreases, Justin Sun clarified the FUD news about Huobi.

Stating that customers’ assets are safe and securely stored in cold wallets Tron founder said:

“Huobi Global is an exchange that was founded in 2013 and has since become one of the most popular exchanges in the world.

Huobi has a strong focus on technology and security and has implemented a number of measures to ensure the safety of its users and assets.

In this context, the company uses cold storage for most of its digital assets, which means they are stored offline. This helps prevent assets from being hacked or stolen by cybercriminals.

The company also undergoes regular third-party audits…”

Binance CEO CZof 12 December 2022 “Ignore FUD. Keep building!” quoting the share Justin Sun, “Now it’s his turn,” he said.Ok. My desk. Ignore FUD. Keep building!” said.

Justin Sun said the following against the Huobi FUD news, allegedly facing bankruptcy risks:

“At Huobi Global, we believe that the key to success in the cryptocurrency world is “Ignore FUD and Keep Building”.

As a leading cryptocurrency exchange, our strategy is to focus on the long-term and not get caught up in short-term distractions.

We deal with FUD news by staying true to our mission, doing what we do best, continuing to invest in technology and security, listening to our users, adapting to the highly volatile cryptocurrency world, and trying to understand what crypto means to our users.”

As a result, he stated that their main strategy as Huobi is “Ignore FUD and Keep Building”. Tron founder, our users cryptocurrency He stated that they are working to provide a reliable and reliable platform for them to buy, sell and trade.

As these discussions continue Huobi Exchange Token’It fell 11% due to layoffs reports and internal strife. Stock market volume fell 23% as market concerns over Huobi’s health escalated.

Concerns were also raised about the quality of Huobi’s post-FTX reserves. A recent report from CryptoQuant shows that of all exchanges, Huobi relies the most on its own token to express its reserves.

About 60% of its reserves are based on things other than tokens. According to CryptoQuant, OKX and Derebit seem to have the cleanest reserves of all exchanges, reaching 100%.

For exclusive news, analytics and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android and iOS Start live price tracking right now by downloading our apps!


source site-4