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Huobi Responds to Allegations of Asset Decline with Merkle Tree-based Proof of Reserves

Huobi, a major global exchange, has responded to unfounded claims of a decline in assets circulating on social media. The exchange released a statement based on data and facts, confirming that the total assets held in custody for users exceed $3 billion.

The misleading claims stem from outdated data on third-party platform Glassnode, which failed to promptly update relevant data based on changes in Huobi's assets.

Huobi prioritizes the protection of user funds and maintains transparency through publicly available on-chain wallet assets and monthly updates of Merkle Tree-based proof of reserves.

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