On March 10th, According to Whale Alert data, Justin Sun transfered 100,000,000 USDC to Huobi. Sun confirmed the deal shortly after it was revealed.
Justin Sun Sends $100 Million USDC To Huobi As A Liquidity Fund
Justin Sun informed that Huobi will fully bear the losses of its leveraged position due to fluctuations in the HT market and invest $100 million to establish a liquidity fund. Sun also apologized to HT users for the volatility impact caused by a small number of leverage clearing houses.
In order to enhance the multi-currency liquidity of the Нuobi platform, the company will invest his US$100 million to establish a liquidity fund to further improve major currencies, HT liquidity depth, alert leverage and liquidity. Additionally, Justin Sun said Нuobi would like to update the community with the next step for this event.
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