Huobi Addresses Asset Decline Speculations, Blames Data!

Key Points:

• Huobi clarifies media reports on “asset decline” based on Glassnode data, citing inaccuracies and omissions in address data.
• HB’s assets are distributed across multiple chains, including 400M USDT on TRON, 6,500 TRC20 BTC, and partial collateralization of ETH as an ETH validator.
• Huobi takes proactive steps to urge Glassnode to update data and demonstrates its commitment to transparency and accurate reporting to the crypto community.

Huobi has responded to recent comments circulating on social media regarding an alleged “asset decline.”

Huobi clarified that the media reports were based on asset data provided by Glassnode, but professional analysis has revealed inaccuracies and a clear omission in the address data.

According to Huobi’s analysis, the data collected by Glassnode fails to accurately reflect the current state of HB’s assets. It was discovered that the main hot wallet and cold wallet addresses used for asset storage have undergone changes since the data was collected. Furthermore, HB’s assets are distributed across multiple chains, including 400 million USDT on TRON, 6,500 TRC20 BTC, and partial collateralization of ETH as an ETH validator. Unfortunately, Glassnode has not been updating its data in a timely manner to reflect these changes.

Huobi has taken proactive steps to establish contact with Glassnode, urging them to update the necessary data. HB recognizes the importance of accurate and up-to-date information to maintain transparency and provide an accurate picture of its asset holdings.

Huobi recently revealed the Merkle tree asset reserve certificate for July 1st. The total assets held by users on the Huobi platform have surpassed $3 billion, demonstrating the significant trust and participation of the user base.

It is crucial for accurate data to be utilized in assessing the financial health and performance of platforms like HB. HB’s efforts to rectify the inaccurate data provided by Glassnode demonstrate their commitment to transparency and ensuring accurate reporting to the crypto community.

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