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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...

HTX and Poloniex are about to resume deposits and withdrawals, and Justin Sun announced an airdrop for affected users . Following the recent cybersecurity breaches of HTX and Poloniex, Justin Sun has announced an “epic airdrop ” for users with assets on these platforms. The move comes as a gesture of goodwill and support to those affected by the hacks. As HTX and Poloniex approach opening deposit and withdrawal, we will initiate an epic airdrop for users with assets. Please stay tuned! My deepest apologies to the users affected by the hacker attacks on HTX and Poloniex. We will cover the loss and All assets are are SAFE. — H.E. Justin Sun 孙宇晨 (@justinsuntron) November 24, 2023 You might also like: Customers left confused as HTX reportedly struggle to resume withdrawals The airdrop is part of a broader strategy to mitigate the financial impact on users after Poloniex’s hot wallets were compromised, leading to an estimated loss of $114 million. ...

Justin Sun tweeted: advertisement When HT was initially distributed, Li Wei, Leon Li’s brother, received millions of HT tokens for free. Li Wei has been consistently selling off these HT tokens and cashing out. Justin Sun On HT Tokens The HT DAO committee has taken action to rectify the situation, aiming to negotiate a refund and facilitate the destruction of Li Wei’s remaining HT tokens. We plan to engage with Li Wei to negotiate a refund and arrange for the destruction of his remaining HT tokens. Recommended Articles Crypto Telegram Channels List 2023 [Updated] Must Read Crypto Presale Projects For 2023 To Invest; Updated List Must Read Explained: What is Layer 0 in Blockchain? Layer Zero Crypto Examples Must Read Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Update...

The heightened scrutiny and regulatory action by US regulators against Binance has become a big concern for its users. A potential enforcement action by the US Securities and Exchange Commission (SEC) could be devastating for the exchange and the market. advertisement Coinbase and Binance are witnessing less liquidity as compared to earlier quarters. Jump Crypto and Jane Street pulling back their market-making activity from the U.S. will put further pressure on exchanges. Also Read: US SEC Is Reportedly Close To Taking Enforcement Action Against Binance Binance Losing Market Cap Constantly US regulators have taken strict regulatory actions against major crypto exchanges Coinbase , Bittrex , and entities related to crypto. Binance was not spared, US SEC and NYDFS took action against Paxos ordering the firm to stop minting Binance USD (BUSD) stablecoin. Trending Stories Bitcoin Price Breakdown from Monthly Support Hi...

Key Huobi execs, including Huobi Group CFO Lily Zheng allegedly left the company a few months ago following the new shareholders’ takeover. Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm. “The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations on Huobi firing as many as 40% employees is a rumor. Huobi has established a new organizational structure after the new shareholders have taken over, the spokesperson said, adding that the firm has adjusted the business departments. “With the current state of the bear market, a very lean team will be maintained going forward. The personnel optimization aims to implement the brand strategy, optimize the structure, improve efficiency and return to the top three,” Huobi said. In the statement, ...