In a surprising turn of events, Huobi advisor Justin Sun revealed his intention to negotiate the destruction of a significant amount of HT tokens that were secretly allocated to relatives of the former owner of the Huobi cryptocurrency exchange. Sun took to Twitter to make the announcement, expressing his concern over the actions of Li Wei, the brother of Leon Li, the previous owner of Huobi.
According to Sun’s tweet, Li Wei allegedly obtained a substantial number of HT tokens through illicit means, essentially acquiring them at zero cost. Moreover, Li Wei has been consistently selling off these tokens and making significant cash withdrawals. These actions have not only tarnished the reputation that Leon Li had built over the years in the Chinese cryptocurrency community but have also harmed the interests of every member of the HT community.
We plan to engage with Li Wei to negotiate a refund and arrange for the destruction of his remaining HT tokens. This action is not only a matter of justice but also serves the best interests of everyone in the HT DAO community.
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 16, 2023
To address this issue, the HT DAO committee, in collaboration with the HT Global Advisory Board, has passed a resolution to pursue the retrieval and destruction of the HT tokens acquired by Li Wei at zero cost. This decision has been made in the interest of fairness and justice, ensuring that those who genuinely contribute to the growth and development of the HT DAO community are rewarded appropriately.
The HT DAO community will request that Li Wei returns the profits he has obtained from the sale of HT tokens. The funds recovered will be used to repurchase and destroy HT tokens, with the destruction process being transparently communicated to the community. The tokens will be sent to a fully zero address, ensuring their permanent removal from circulation.
Justin Sun’s statement has already had a slight impact on the price of HT, as the market responded positively to the news. However, Leon Li, the former owner of Huobi, has yet to make any public statements regarding these developments.
It is worth noting that the HT token has been on a downward trend since the beginning of 2023, despite the overall market recovery. The actions taken by Justin Sun and the HT DAO committee indicate their commitment to maintaining the integrity and fairness of the HT ecosystem.
As the negotiations between Justin Sun and Li Wei unfold, the cryptocurrency community awaits further updates on the progress towards the refund and destruction of the HT tokens acquired at zero cost. The outcome of these negotiations will not only have implications for the individuals involved but will also serve as a testament to the HT DAO community’s commitment to upholding justice and rewarding genuine contributions.
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