SEC Case Against Crypto Mogul Sun Stirs Questions Over Huobi
- China-born Justin Sun accused of fraud over the TRX token
- TRX is significant part of reserves at Huobi crypto exchange
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The TRX token at the center of fraud charges against digital-asset mogul Justin Sun makes up a significant slice of the reserves at the Huobi Global crypto exchange, where the China-born entrepreneur is an adviser.
TRX — commonly referred to as Tron — comprises 18% of the reserves at Huobi, a major crypto platform, according to data from DeFiLlama. Doubts about the coin could reignite concerns over the strength of Huobi in a digital-asset sector fearful of collapses following the unraveling of the FTX exchange.