Justin Sun Withdraws $60M from Huobi Amid HT Token Flash Crash

• On-chain data showed ~$60 million in stablecoins taken off Huobi around when HT Token lost 93% of its value.
• Justin Sun has defended his withdrawal from Huobi and also added funds back.
• Some are skeptical of the withdrawal on Twitter, while others believe it is simply bad timing.

A sudden flash crash of Huobi’s HT token, the native token of the exchange, on Thursday, March 9, sent shockwaves around the crypto space–especially with recent crypto company collapses fresh in mind.

Around the time of the collapse, Justin Sun withdrew ~$60 million in Ethereum stablecoins from Huobi. The funds were moved to DeFi protocol Aave.

While the moving of funds...

Continue reading on DailyCoin.