Justin Sun Criticizes Huobi Founder’s Brother For Benefiting From Free HT Token
- According to Justin Sun, Li Wei, the younger brother of Huobi founder Li Lin, should never have gotten millions of HT tokens for free, much alone profiting from them.
- Sun went on to say that Wei has made no contributions to the HT community.
- The value of HT tokens has plummeted in the last month.
Justin Sun, the inventor of Tron (TRX) and a Huobi shareholder, has filed a series of allegations against Li Wei, the brother of Huobi founder Li Lin, stating that he obtained Huobi’s native token (HT) abnormally at no cost and sold it for large sums of cash.
Sun stated today that Wei got the token when it was first released and that he has been consistently selling off and cashing out since April.
“Li Wei has been consistently selling off these HT tokens and cashing out. Now, the HT DAO committee is stepping in to rectify this issue,” Sun said.
Sun indicates that Huobi intends to work with Wei to negotiate a reimbursement and arrange for the destruction of his remaining HT tokens. Not only will this move be a question of justice, but it will also serve the best interests of everyone in the HT DAO community, according to him.
Sun added that Wei should refund the USDT and that he should never have been awarded any HT. He went on to say that Wei has made no contributions to the HT community and that he is willing to reward individuals who have really contributed to the growth and development of the HT DAO.
Sun said that Wei began selling HT tokens last month and has sold 2.37 million HT for 7.45 million USDT, citing Huobi exchange statistics. When asked how many tokens Wei owns in total, Sun answered he didn’t know since it was a long time ago, but it was probably a few million HT.
Coincidentally, Huobi recently announced its stake sale, stating that the company’s controlling shareholder has decided to sell its stock to the M&A fund of Hong Kong-based investment firm About Capital Management.
Although Huobi did not identify the controlling shareholder, the announcement came amid rumors that Lin was looking for a buyer for his over 60% ownership in the firm and was asking for at least $1 billion. The parameters of the arrangement with About Capital Management were not disclosed by Huobi.
The HT token has lost more than 40% of its value in the last seven days, but has rebounded by 1.23% as a result of Sun’s tweets.
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