tldr; The article discusses concerns about the reserves and internal controls of HTX, a cryptocurrency exchange owned by Justin Sun. HTX’s reserves include unusual assets like tokenized BTC from Poloniex, with unclear collateral backing, and a majority of its stablecoins, such as USDT and USDC, are lent out on platforms like Aave and Morpho. The article highlights discrepancies in reserve management, transparency issues, and Sun’s involvement in various cryptocurrency projects, raising questions about the security and governance of HTX’s assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
GreedVault on
One should expect much from a cex, particularly one owned by Mr. Sun.
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tldr; The article discusses concerns about the reserves and internal controls of HTX, a cryptocurrency exchange owned by Justin Sun. HTX’s reserves include unusual assets like tokenized BTC from Poloniex, with unclear collateral backing, and a majority of its stablecoins, such as USDT and USDC, are lent out on platforms like Aave and Morpho. The article highlights discrepancies in reserve management, transparency issues, and Sun’s involvement in various cryptocurrency projects, raising questions about the security and governance of HTX’s assets.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
One should expect much from a cex, particularly one owned by Mr. Sun.