5,000 ETH move to Tron founder backed Huobi sparks speculation JustinSun Ethereum
Following that, the same address on the Ethereum network sent 5,000 ETH to the Huobi crypto exchange, which is valued at $9.14 million.a Coindesk story indicating that a Huobi official denied that the address belongs to Justin Sun. Instead, the address is listed as one of the top 10 TRX token holders.Other moves by a TRX whale address that minted 38.5 million TUSD and received 10 million TUSD from Huobi and 1 million TUSD from Binance within the last six days were reported by PeckShield Alert.
Chinese crypto journalist Collin Wu also reported along these lines, adding that Huobi's USDT reserves hadWu Blockchain also speculated that users had withdrawn funds from Huobi due to the probe into the company's management. On Aug. 4, rumors began to circulate that the exchange's executives had been arrested in China as part of an alleged investigation into the exchange's connections with gambling platforms. Furthermore, one high-ranking executive is said to have recently left Huobi.
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