Huobi, Confirming Justin Sun a

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2023/01/20 05:19

Huobi, Confirming Justin Sun as Leader, Takes Aim at 'Rat Trading'

Singapore-based exchange Huobi confirmed Thursday that Justin Sun, founder and CEO of Tron, and one of the richest people in crypto, is not just a member of the Global Advisory Board but is leading the exchange.

“Under the leadership of Justin Sun, it can be said that Huobi has embarked on the path to rebirth,” the blog post said.

Sun became a Global Advisory Board member in October, shortly after Hong Kong-based investment company About Capital Management became the majority stakeholder of Huobi, but it wasn’t previously confirmed that Sun was in charge of the exchange.

The timing has sparked rumors in the industry that Sun might be a shadow investor behind About Capital, but representatives for Sun have told CoinDesk that he is not an owner of the company. Sun himself has confirmed that he owns tens of millions of Huobi’s HT tokens.

Huobi recently came under scrutiny on several fronts, including how it handled its layoffs of around 1,600 people in January.

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