Huobi denies reports of executive arrests as outflow from exchange increases
Huobi has denied reports that several of its executives were arrested in China as the outflow from the exchange increases. However, data from Nansen.ai shows that Huobi's stablecoin exchange balances have decreased by 33% in the last week, with traders withdrawing $49 million in stables. On-chain data reveals that some of the exchange's largest holdings are from tokens connected to the Justin Sun universe of companies and protocols, with 26.5% of the exchange's holdings in TRX and 20.32% in HT. Huobi has approximately $1 billion in highly liquid assets, including $886.92 million in bitcoin, $48.27 million in USDT, and $5.41 million in USDC, according to DeFi Llama data.
Huobi sees $64M outflows amid solvency and investigation rumors
Huobi, a cryptocurrency exchange, has experienced outflows of $64 million amid rumors of solvency issues and investigations by Chinese authorities. The outflows caused the exchange's total value locked to drop from $3.09 billion on July 6 to $2.05 billion. Rumors of the exchange's leadership being arrested in China were denied by a Huobi spokesperson, but at least one C-level executive has left the company in recent weeks.
Huobi Posts $85 Million Profit on $193 Million Revenue in Q2
Sun Yuchen tweeted that Huobi’s actual revenue in the second quarter of 2023 will be US$193 million, expenses will be US$108 million, and quarterly profit will be 85 million, an increase of 183% from the previous quarter. In addition, Justin Sun also forecast third-quarter revenue of $200 million, expenses of $100 million, and a profit of $100 million.
Huobi Announces Delisting of CVNT, TNB, SOS and KCASH Tokens
Huobi, one of the leading cryptocurrency exchanges, has announced that it will be delisting four tokens - CVNT (Content Value Network), TNB (Time New Bank), SOS (Opendao), and KCASH (KCASH) - as part of its efforts to promote the healthy development of the blockchain ecosystem. The delisting will take place on August 4, 2023, at 08:00 (UTC), in accordance with Article 17(2) under the Huobi Token Management Rules.
Huobi burned 1,950,555 HT in 2023 Q2
According to Huobi Q2 report, 1,950,555 HT were burned on Huobi in the second quarter of 2023. As Huobi steps up its burning mechanism, a total of 298,940,224 HT was burned as of July 15, 2023.
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.
Huobi Released the Latest Asset Reserve Certificate, BTC and ETH Asset Deposits Increased by 53.3% and 7.2% Month-on-Month
Huobi released the latest asset reserve certificate. The user’s BTC asset accumulation increased by 53.3% compared with June, an increase of 8,300 BTC; the user’s ETH asset accumulation increased by 7.2% compared with June, an increase of 9,500 ETH; the user’s HT asset accumulation compared with June A month-on-month increase of 0.7%, an increase of 1.46 million HT; users’ USDT asset deposits increased by 13% compared with June, an increase of 72 million USDT.
Cryptocurrency Analyst Will Woo: Reserves and Trading Volumes on Huobi Exchange Are Decreasing
Huobi, a cryptocurrency exchange headquartered in Seychelles, is facing a decline in both reserves and trading volumes. Crypto analyst Will Woo has compared the exchange to a "train wreck," noting that collateral has been draining from the exchange since 2020.
Huobi Resolves Data Breach, Raises Questions About Response and Potential Consequences
July 4 (Cointime) - Huobi has finally resolved a data breach that exposed the data of 4,960 users. The incident has raised questions about the company's response and the potential consequences if the breach had been exploited. The breach exposed user assets to potential theft and unveiled critical information about the exchange's technical infrastructure.
Huobi Announces Strategic Partnership with Justlend DAO to Support stUSDT
July 3 (Cointime) -According to Huobi, Huobi will support stUSDT staking product, giving Huobi users the opportunity to earn stable RWA (Real World Assets) rewards.Users holding stUSDT on Huobi will be able to earn staking rewards. Exciting events for stUSDT will be rolled out soon.
