Justin Sun’s statement caused a 3.16% increase in the value of the HT token.
Justin Sun, the CEO of Tron (TRX) and a stakeholder in Huobi, has made several accusations against Li Wei, the brother of Huobi founder Li Lin. Sun alleges that Li Wei obtained Huobi’s native token (HT) in an unusual manner without paying anything for it, and then sold it for a significant amount of money.
Over the last week, the token’s value dropped by 43%. However, after Justin Sun’s tweets, it managed to recover and increased by 3.16%.
Justin Sun stated that Li Wei has been continuously selling the HT tokens he obtained and converting them into cash. To address this matter, the HT DAO committee is taking action. They intend to communicate with Li Wei to discuss the return of the tokens and arrange for the remaining HT tokens to be destroyed.
In addition, Justin Sun mentioned that Li Wei has not made any meaningful contributions to the HT community. He emphasized his belief in rewarding individuals who truly contribute to the progress and advancement of the HT DAO.
As per CoinMarketCap, HT is currently being traded at $2.80, and its total market value is around $450 million. Its highest recorded value was $33.28 in May 2021.
This information is for general knowledge only and should not be considered as advice for investing or making financial decisions.
