The CEO of Tron (TRX) and Huobi stakeholder, Justin Sun, has made a series of bold allegations against Li Wei, the brother of Huobi founder Li Lin. Sun claims that Wei acquired Huobi’s native token (HT) in an unconventional manner, obtaining it for free and later selling it for significant profits
In the past seven days, the value of HT has witnessed a substantial decline, losing 43%. However, following Sun’s tweets, it has managed to recover slightly, with a 3.16% increase.
Sun revealed that the younger brother of Li Lin, founder of Huobi, received millions of HT tokens without any cost during the initial distribution phase. He further asserted that Li Wei has consistently been selling these tokens and cashing out. In response to these allegations, the HT DAO committee has intervened to address the situation. Sun stated that their plan is to engage in negotiations with Wei, seeking a refund and the destruction of his remaining HT tokens.
According to Sun, Wei has not made any significant contributions to the HT community, emphasizing the importance of rewarding those who genuinely contribute to the growth and development of HT DAO.
Currently, HT is trading at $2.96, with a market cap of $450 million. It reached an all-time high of $33.28 in May 2021, as reported by CoinMarketCap.
In recent months, Justin Sun has assumed a prominent role within Huobi. During an interview in March, he expressed Huobi’s ambition to obtain a license in Hong Kong, with plans to launch a new exchange called Huobi Hong Kong.
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