HTX temporarily suspends proof-of-reserves amid TUSD concerns
Crypto exchange HTX, previously known as Huobi, has unexpectedly deactivated its proof-of-reserves feature. This observation was noted today by popular fintech analyst Adam Cochran, Managing Partner at Cinneamhain Ventures. This development coincides with issues faced by the stablecoin TrueUSD (TUSD), reportedly linked to HTX stakeholder Justin Sun, struggling to stay aligned with its intended $1 value for over two weeks. Cochran also noted that live data from DefiLlama showed that HTX only had $120 million in ETH holdings, although the latest audit reported nearly $300 million. 2/8 Their live reporting on DefiLlama shows only about $120M in ETH assets despite their last audit claiming closer to $300M in raw ETH. pic.twitter.com/JFBqADzq27 — Adam Cochran (adamscochran.eth) (@adamscochran) January 26, 2024 You might also like: Spot Bitcoin ETFs see $80m net outflows on Thursday Earlier today, HTX’s proof- of -reserves webpage displayed no information regard...