Justin Sun-Binance Exchanged $150 Million Amid Huobi FUD

Justin Sun, shadow owner of the Chinese crypto exchange, Huobi Global on Thursday affirmed that they are planning to lay off around 20% of its staff. Since this announcement, Huobi’s native crypto price has dropped by around 12% in the last 24 hours. However, data depicts that Justin Sun is moving huge amounts of funds amid this drop.

Justin Sun moving stablecoins amid FUD

As per whaleAlert, a wallet address linked to Justin Sun has moved $100 million worth of USDC and USDT tokens to some unknown wallet. He moved $50.027 worth of USDT to another wallet. While the same amount of USDT tokens was sent to Justin earlier.

It is interesting to note that around $100 million worth of USDT and USDC were transferred from the Binance, crypto exchange to Huobi Global’s shadow owner in multiple transactions. Earlier, Justin Sun moved around $50 million worth of $50 million worth of USDT to Binance.

The tracker further noted that $100 million worth of USDC and USDT tokens were moved from an unknown wallet to Huobi, crypto exchange.

These huge transactions have been recorded when Huobi’s token and TRON (TRX) token is on a drop. Earlier, Coingape reported that TRON’s stablecoin USDD is de-pegging heavily and might collapse ahead due to uncertainty.

Reports suggest that he will shut down 1,100 staff Huobi China HQ in order to re contracting all China employees.

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Ashish Kumar

Ashish believes in Decentralisation and has a keen interest in evolving Blockchain technology, Cryptocurrency ecosystem, and NFTs. He aims to create awareness around the growing Crypto industry through his writings and analysis. When he is not writing, he is playing video games, watching some thriller movie, or is out for some outdoor sports. Reach me at [email protected]

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.