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Justin Sun Reveals Q1 Financial Results: $30M Profit, Amid Huobi's Exchange Business Consolidation

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Sun Yuchen（Justin Sun）, founder of the Tron blockchain platform, has announced the financial results of Huobi for the first quarter of 2023. Despite the bearish market conditions, the group's revenue was $150 million, with expenses totaling $120 million, resulting in a profit of $30 million.

The Huobi group implemented cost-cutting measures in the first quarter, and is conservatively projecting revenue of $187 million and expenses of $76 million for the second quarter, with a quarterly profit of $111 million. Sun emphasized the importance of transparency by disclosing the financial status of the group to the public.  

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