Adam Cochran, an experienced business development executive in many crypto projects, shared his thoughts on Tether (USDT) and Huobi.
๐ Briefly about the main points:
1. Huobi executives have been summoned for questioning by the police.
2. Suspicious changes in Huobi’s balance sheets and the launch of stUSDT overseen by Justin Sun.
3. Cryptocurrency exchange Binance was the first to identify such risks.
4. Justin Sun is making false claims. Approximately 98% of all stUSDT tokens are in his possession.
5. Huobi has only $90 million in assets, while exchange users have more than $631 million.
6. The crypto exchange will not be able to resist massive withdrawals.
7. CZ from Binance found out about everything and started mass exchanging USDT for DAI because of which USDT rate lost its peg to $1.
Justin Sun responded with a figure of 4 (as CZ does on FUD) and Houbi’s rep replied that it’s just a rumor.
Rumor or truth?