Justin Sun denies liquidation rumors amid market turmoil
Over the weekend, more than $1 billion in futures positions were liquidated from the crypto markets as fears of a looming recession intensified.
Justin Sun, founder of Tron (TRX) and Huobi (HTX), has denied rumors that leveraged futures positions from HTX have been liquidated in the past 24 hours during the sharp market downturn, claiming that HTX “rarely” engages in leveraged trading.
Sun followed up his remarks by promising to set aside $1 billion “To combat fear, uncertainty, and doubt, invest more, and provide liquidity,” though details on this proposed fund remain elusive beyond his initial announcement.
Cointelegraph reached out to Sun for more clarification but was unable to obtain a response by the time of publication.
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Author: Vince Quill
