Huobi FUD Compilation | Related Concerns, Justin Sun's Official Response
Huobi sparked internal turmoil due to significant layoffs, including unreasonable terms such as requiring employees to sign new contracts and re-enter probationary periods. Rumors have spread from Chinese community to foreign media reports.
Table of Contents
Other Concerns: Asset Allocation
Nansen data shows that 31% of Huobi's reserve assets are in the platform token HT, reminiscent of the situation before FTX's bankruptcy.
OKX, Bybit, Kucoin do not have this situation. Although Bitfinex platform token LEO accounts for 34%, Bitcoin accounts for nearly half at 49.9%.
Impacted by FUD, HT has dropped by 14.8% in two days and 36% since December, currently priced at $4.59.
Looking at Huobi's Telegram group, the actual level of community panic is far less than the recent disruption events at OKX and Gate.io due to Alibaba Cloud.
Huobi Global and Chinese Twitter have not issued any clarification regarding the accusations in the article.