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Days before FTX declared bankruptcy, Justin Sun signaled his intent to make sure that both Poloniex and Huobi would complete a proof-of-reserves process. Poloniex even describes this process as an “audit.”  However, despite these assurances, Protos was unable to find any proof of reserves anywhere for Poloniex. For its part, Huobi provided a ‘Work Report on Asset Transparency’ in November and said another was coming with a third party within 30 days, however, it’s not clear to us exactly which third party is providing the promised confirmation. Several months later, it also made an interface available for users to “confirm” their own balances. Protos has reached out to Poloniex to verify the status of its proof-of-reserves and to Huobi to determine the identity of the third party, and we’ll update if we hear back. Huobi’s reserves have been a matter of some concern since people highlighted a decrease in bitcoin, but Huobi was qui...

Huobi will launch a trading pair with PayPal’s stablecoin PYUSD, backed by the US dollar, with a perpetual zero trading fee. Huobi users will be able to trade PYUSD/USDT. The announcement highlights that the exact date of pair launch will depend on market circulation and liquidity factors. You might also like: PayPal ventures into stablecoins with launch of PYUSD One day earlier, Justin Sun invited PayPal to consider TRON as a blockchain for its stablecoin. I cordially invite PayPal to consider issuing PYUSD on #TRON, which is Fast, secure, and cost-effective with 12 billion USD daily transactions. Mutual benefits await in the digital payment landscape. Let's collaborate for a thriving ecosystem! — H.E. Justin Sun 孙宇晨 (@justinsuntron) August 7, 2023 Highlighting TRON’s speed, security, and cost-effectiveness attributes, Sun alluded to the impressive daily transaction volume of 12 billion USD. He emphasized the potential for mutual benefits within the...

Huobi exchange has been the subject of significant discussion within the crypto community due to unfavorable circumstances. Speculations about financial instability were accompanied by notable increases in the withdrawal of funds, causing concerns for the company. Amidst the exchange’s assertions about its stability, there is a notable volume of asset transfers taking place. Notably, a substantial whale executed two sizable deposits into Huobi, resulting in a significant augmentation of the exchange’s reserves of USDT and Ether. Based on current information, the large investor proceeded to conduct a transaction involving a collective sum of $200 million in USDT earlier today. Furthermore, this was succeeded by an additional transfer of 5,000 ETH, which held a value of $9.15 million. Speculation arose among many that this individual could potentially be Justin Sun from Tron, as the associated address was tagged with ‘JustinSun’. #PeckShieldAlert #JustinSun la...

Huobi Global Ltd. has announced plans to discontinue ten trading pairs, predominantly those associated with the USDD stablecoin, as part of their ongoing efforts to optimize user trading experiences. Renowned digital currency exchange Huobi Global Ltd. stated that it will discontinue ten specific trading pairs , primarily those connected to the USDD stablecoin . This stablecoin , issued by the TRON DAO Reserve, has significant backing from well-known digital asset entrepreneur Justin Sun. Huobi intends to delist trading pairs involving the ADA token of Cardano, SOL of Solana, APE of ApeCoin, MATIC of Polygon, FIL of Filecoin, and ETC of Ethereum Classic in combination with USDD, starting from June 29th. Additionally, ARPA, GAS, QTUM, and ZKS pairs with bitcoin will also be excluded from the platform. The exchange rationalized these actions as part of its initiative to deliver a superior trading experience to users. .#JustinSun just removed some of his stablecoin liquidity on the ...

The entire cryptocurrency market is in a muddle. Amidst this, Huobi Token [HT] was dealing with a crisis of its own. The native token of the prominent cryptocurrency exchange, abruptly dropped by 93%. HT declined from a high of $4.81 to a low of $0.31. At press time, HT was trading for $3.83 with a 21.13% daily drop. The 24-hour trading volume of the asset surged by 329%. This was further linked to the increased selling activity in the HT market. Source – HT/USD Chart on TradingView In the one-hour chart of HT, the crash as well as the recovery have been highlighted. In addition, the native token of Huobi moved from the oversold zone to recovering buying pressure. The Relative Strength Index [RSI] indicator highlighted this factor. This crash was triggered by the $2 million worth of sales that occurred within 5 minutes. Data from Kaiko noted that this was far more than the $600K worth of buys on the HT -USDT pair. The cryptocurrency community was undoubte...

Some tokens were delisted due to "severe violation of regulations." According to a Jan. 11 announcement, cryptocurrency exchange Huobi said that it would delist 33 token s consisting of tickers ABT, ATP, APN, AST,DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, STC, TALK, VALUE, WHALE, WILD and YAM. Effective Jan. 16, the aforementioned token s will cease trading and be delist ed permanently. In explaining the decision, Huobi wrote that most of the token s violated Section 17, Rule 1, and Section 17, Rule 2, of the Huobi Token Management Rules, which states: "Huobi reserves the right, based on the severity of the incident, to hide or cease trading in accordance with the following events: 1) [Tokens] Labeled with "ST" warning and not canceled within 30 days. 2) [Tokens] That do not meet the requirement of having $50,000 in daily trading volume." Cast your vote now! According t...