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Huobi to Compensate for HT Market Fluctuation Losses, Invest $100M in Liquidity Fund

Cointime Official

Justin Sun, the founder of Tron and an advisor to the cryptocurrency exchange Huobi, announced that Huobi would fully compensate for losses incurred due to recent HT market fluctuations in leveraged positions and invest $100 million in a liquidity fund.

At 3:45 pm, HT was trading at $4.70. By 4:10 pm, it was down to $1.83. By 6:00 pm, it was back up $3.90,  30% lower than it had started the day.

"Huobi platform will fully bear the loss of leveraged positions caused by HT market fluctuations." Justin Sun wrote in the Tweet.

"To further improve the multi-currency liquidity of Huobi platform, we will invest 100 million US dollars to establish a liquidity fund to continue to improve the mainstream currency, HT liquidity depth, and strengthen Leverage warning and liquidity capabilities." Justin Sun added.

Huobi Token Huobi Token $0.13
-32.79%
Huobi Justin Sun
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