Justin Sun, the founder of blockchain platform TRON, took to Twitter on March 24 to announce that Huobi, a leading cryptocurrency exchange, believes that the recent charges against his other projects have come to an end.
In a series of tweets, Sun mentioned the recent activities of the US Securities and Exchange Commission (SEC) and its impact on Huobi.
Sun stated that the SEC’s recent actions had caused Huobi’s net outflows to be only $30 million, compared to an average net inflow of $20 million a day. He also mentioned a recent withdrawal campaign by some black-hat hackers, which caused a net inflow of $7 million to Huobi. Sun seemed confident that the impact of the charges on Huobi’s operations had ended and the exchange was now ready to continue operating normally.
Sun also revealed his personal plans for Huobi in the coming weeks. He said that he plans to add a few more million dollars to Huobi’s liquidity to improve its depth and boost users’ confidence in the platform.
He also mentioned that he would continue upgrading the platform’s leveraged contract products to increase capital utilization efficiency and improve risk management measures. Additionally, he intends to list several new cryptocurrencies on the exchange to create a wealth effect for Huobi users.
Sun also indicated that Huobi has been focusing on product development and improving the overall user experience. He said that the exchange plans to launch some significant features in the second quarter of this year, which will make Huobi stand out from other cryptocurrency exchanges. He urged the public to wait and see what Huobi has in store, claiming that the exchange has been working hard and will not disappoint its users.
Justin Sun’s recent comments about Huobi indicate that the exchange is confident in overcoming the challenges it has faced in recent times. Sun’s personal plans for Huobi also suggest that the exchange is committed to improving its services and expanding its user base. The cryptocurrency market is notoriously volatile, and it remains to be seen how Huobi will fare in the long run.
Read more:
- Justin Sun Earns $3.3 Million By Buying USDC With USDT During Depegging
- TRON’s TRX Falls Over 10% Following SEC Charges Against Justin Sun
- Justin Sun Responds To SEC’s Legal Action, Calling It A “Civil Complaint”