Huobi Global crypto exchange’s new Advisory Committee member Justin Sun in a meeting on Monday announced plans to revive the crypto exchange. Tron founder Justin Sun says the revival plans include brand upgrade, empowerment, and business cooperation focused on Huobi Token. As a result, the Huobi Token (HT) price jumps over 28% in the last 24 hours.
Justin Sun in a tweet on October 10 announced the plans to revive Huobi Global crypto exchange, decided during the meeting of the new advisory committee. The Huobi Global advisory committee includes Ted Chen, Baiyu Capital’s founder Du Jun, Huobi Global’s co-founder Wang Yang, Tron founder Justin Sun, and Valkyrie co-founder Leah Wald.
“Today is my second day in Huobi. I am speaking on behalf of the Huobi Global Advisory Committee. We know that the key to revitalizing Huobi is to empower HT, and HT can only thrive on Huobi! In the future, there will be many big moves around HT, including brand upgrade, heavy empowerment, and business cooperation. We will unite all the forces that can be united to make Huobi Global well together!
The advisory committee will help improve Huobi Global’s business, market, brand, compliance, risk control, and other fields. Moreover, the advisory committee confirmed that the crypto exchange will not return to China and look for globalization. Also, the overall revival plan will revolve around Huobi Token (HT).
About Capital earlier announced plans of having a leading global strategic advisory board, capital injection in margin and risk provision funds, and strategies to improve competitiveness.
Huobi Token (HT) price jumped over 28% as a result of the announcement. The 24-hour low and high for HT are $4.07 and $5.21, respectively. At the time of writing, the HT price is trading at $4.94 and the trading volume is over 360%.
Tron (TRX) price has also jumped over 3% as news media believes Justin Sun is the real buyer. In fact, he is a core investor in About Capital Management, the majority stake owner of Huobi Global. Thus, indirectly making Justin Sun an owner. However, Justin Sun denies all claims and clarifies that he is only an advisor.
FTX CEO Sam Bankman-Fried has also denied being associated with any Huobi deals.
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