Justin Sun Moving Stablecoins After Promising to Create Huobi Liquidity Fund
Justin Sun is moving $60 million in USDT from one of his Ethereum wallets, after he promised to create a $100 million liquidity fund for Huobi in response to an extreme drop and then rebound in the HT token late Thursday U.S. time.
Justin Sun has withdrawn ~$60 million in ethereum stablecoins from Huobi in the last 24 hours pic.twitter.com/4PE4iimp9z
— Nansen 🧭 (@nansen_ai) March 10, 2023
“We will continue to improve the liquidity depth of main cryptocurrencies and HT token, strengthen leverage risk warnings and liquidity capabilities,” Sun tweeted.
HT dropped from a 24-hour-high of $4.81 to a low of $0.31 at 21:00 UTC on Huobi’s exchange, according to data from TradingView.
HT is currently trading at $3.90, according to CoinGecko.