An unknown major holder transferred $200 million in USDT and $9 million in ETH to the Huobi cryptocurrency exchange, according to Arkham Intelligence. The media claims that the address from which the tranche was carried out is associated with the owner of the platform, Justin Sun.
After this transfer, the site’s TVL increased from $2.52 billion to $3.1 billion, according to DeFiLlama.
Remarkably, this holder is also included in the top 10 largest holders of TRX, the native Tron token. He controls a stake of 0.07%. However, in a comment for CoinDesk a Huobi spokesperson denied that Sun made the tranche.
Earlier, Cinneamhain Ventures (CEHV) managing partner Adam Cochran said that Huobi is effectively insolvent, while the real reserves of the site in USDT are about 15% of those displayed in the results of the internal audit.
Justin Sun noted that this is FUD. He urged not to believe such information.
USDT has not yet restored its peg to the dollar. Cochran commented on the situation, highlighting the growing pressure on the asset, including from the position of other cryptocurrency exchanges.
Source: Cryptocurrency
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