HTX remains in the compliance spotlight after UK OFSI sanctions records and TRM analysis flagged Huobi Global S.A. under Russia-related measures.
The UK has designated HTX under Russia-related sanctions rules, with TRM Labs linking the exchange to alleged flows connected to sanctioned entities.
Crypto exchange HTX will permanently remove President Donald Trump-backed World Liberty Financial’s fiat-backed USD1 stablecoin from its trading platform. Beginning June 7, the digital asset exchange said it will systematically convert all eligible retail customer balances of the USD1 token into Tether (USDT) at a strict one-to-one valuation. This intervention arrives as direct retaliation after […]
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The move follows World Liberty Financial's apparent freeze of HTX-linked on-chain addresses, citing UK sanctions compliance, per HTX.
Western governments spent three years building what they believed was an airtight financial blockade around Russia, severing its banks from SWIFT, freezing sovereign reserves, and barring major institutions from clearing dollar transactions. And according to British authorities, Russia may have spent much of that same period engineering an alternative financial system designed to circumvent it […]
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The United Kingdom sanctioned a large crypto exchange, accusing it of "supporting the government of Russia."
The position was the largest single forced closure in 24 hours as bitcoin shed weekend gains and the fear index returned to historic lows.
The FCA has escalated enforcement against HTX, launching legal action over alleged illegal crypto promotions to UK consumers.
Dogecoin (DOGE) is facing a steep market cooldown after weeks of heightened trading activity in early October. Data from CoinGlass shows that both Open Interest (OI) and trading volume for DOGE futures have crashed, indicating a sharp decline in the meme coin’s momentum. The latest figures reveal a significant pullback in derivatives activity and spot market participation, suggesting that traders may be retreating from speculative positions as volatility eases. Dogecoin Open Interest Crashes Over 60% Dogecoin’s Open Interest has plunged dramatically from its October highs, reflecting a rapid exodus of leveraged traders from the market. According to CoinGlass, total exchange DOGE futures Open Interest has fallen over 62% from a peak of $5.03 billion on October 7 to $1.88 billion on October 28. This represents a drop to approximately 9.41 billion DOGE, valued at $ 0.20 per token. Related Reading: Dogecoin Treasury Company Looking To Use Strategy’s Bitcoin Playbook For DOGE, Here’s How Despite the decline in Open Interest, Binance, BitMEX, and Bybit continue to lead as the top exchanges with the highest Dogecoin futures activity. Still, the downturn has been widespread across exchanges. Kucoin recorded the largest drop in recent hours at 3.1%, followed closely by Bitget, which saw a 2.27% decline. Over the last 24 hours, Bitunix recorded the steepest drop in Open Interest, down 15.86%, while Crypto.com saw a 7.36% reduction. Even Binance, which consistently leads Dogecoin futures trading, has seen a notable pullback. CoinGlass reports that the exchange’s Open Interest peaked at $964.7 million on October 7, marking a monthly high. Since then, it has fallen to $380.29 million (1.9 billion DOGE), representing a staggering 60.6% crash in just over three weeks. Dogecoin Sees Even Worse Decline In Volume Trading volume for Dogecoin has mirrored the collapse in Open Interest. CoinGlass data shows that Dogecoin’s futures volume heatmap across major crypto exchanges is in the red zone. Total trading volume had spiked to $20.45 billion on October 11, following the devastating crypto flash crash on October 10, but has since plummeted to $5.31 billion as of October 28. This represents a whopping 74% decline. Related Reading: Dogecoin Price Macro Target Remains Above $2, And The Market Crash Hasn’t Changed It On individual exchanges, Binance’s DOGE trading volume dropped by 9.35% in the past 24 hours, while OKX saw a 13.69% decline. CoinEx recorded the largest volume decrease at 26.1%, followed by Gate.io at 23.94%. Popular exchanges like Bitget, Kucoin, and Bitunix also reported varying declines of 4.96%, 20.37% and 13.16%, respectively, as overall market liquidity thinned. However, a few exchanges bucked the downward trend, recording slight gains. dYdX saw its DOGE volume surge by 167.61%, HTX increased by 49.93%, and Hyperliquid rose by 23.88%. Bybit and MEXC also recorded modest gains of 24.98% and 1.88%, respectively. Alongside its decline in trading volume, CoinGlass notes that Dogecoin’s price performance has slipped. The meme coin is currently trading at $0.20, down 13.19% over the past 30 days and 2.86% in the last 24 hours. Featured image from iStock, chart from Tradingview.com
The financial watchdog previously issued warnings going back to 2023 about the exchange, which has links to Tron founder Justin Sun.
Financial Conduct Authority has sued HTX in London’s High Court, accusing the exchange of unlawfully promoting crypto services to consumers.
Trump-backed DeFi project World Liberty Financial has blacklisted an address linked to Justin Sun after it reportedly transferred some of its WLFI tokens, sparking allegations of market manipulation. Related Reading: Cardano (ADA) Redemption Controversy Over? Hoskinson Shares IOG Audit Results World Liberty Financial Blacklists Justin Sun On Thursday, World Liberty Financial reportedly blacklisted the Tron founder’s address following his recent movements of his WLFI holdings and multiple online accusations that he was selling. According to Arkham data, Sun claimed 600 million WLFI tokens at the Token Generation Event (TGE), valued at $200 million at the time, as 20% of the 100 billion tokens were unlocked. The Tron founder was one of the earliest investors in World Liberty Financial in 2024 and was recognized as the top holder of US President Donald Trump’s official memecoin, TRUMP, earlier this year. On September 1, he shared his conviction on the token, affirming that WLFI “will be one of the biggest and most important projects in crypto.” He also stated that he had “no plans to sell our unlocked tokens anytime soon. The long-term vision here is too powerful, and I’m fully aligned with the mission.” Nonetheless, multiple on-chain analysis platforms revealed that Sun had started to move his unlocked tokens, sparking rumors that he was selling. On-chain data showed that he had sent 4.9 million WLFI to crypto exchange HTX, owned by the Tron Founder, over the past two days. Sun reportedly transferred 50 million tokens, worth $9.12 million, to a new wallet on Thursday morning, “likely to be deposited into HTX.” Meanwhile, Wu Blockchain noted that over the past 32 hours, HTX address “HTX 48” transferred approximately 60,000,000 WLFI tokens to Binance deposit address 0xf387D7…29FcB5. Sun Denies WLFI Selling Accusations Following the $9 million move, “World Liberty Financial’s controlling address 0x407F…5178 called the guardianSetBlacklistStatus function on the WLFI Token contract, blacklisting the address 0x5AB2…DA74, which is associated with Justin Sun,” Wu Blockchain explained. The action froze Sun’s unlocked and 2.4 billion locked WLFI tokens. Tron’s founder responded to the accusations on X, stating that his address just conducted “a few test deposits on exchanges with very low amounts, followed by an address distribution.” He added that these tests “did not involve any trading activities and could not have impacted the market in any way,” but did not comment on the blacklist. At the time of writing, World Liberty Financial has not addressed the situation. WLFI’s Price Hits New Low The news comes as WLFI’s price struggles just three days after launching. Earlier today, the token hit an all-time low (ATL) of $0.16 before bouncing to the $0.18 mark. This performance represents a 20% decline over the past 24 hours and a nearly 45% drop from its all-time high (ATH) of $0.33. Market watcher Daan Crypto Trades noted that the cryptocurrency has broken down from a triangle formation, where the price was compressing for the past two days. According to the trader, WLFI saw a “quick acceleration as expected” and “even gave a nice retest before the continuation down.” Related Reading: Bitcoin Attempts $111,000 Reclaim, But Last Leg Up Could Be Weeks Away – Analyst Meanwhile, analyst Ali Martinez suggested that te bottom might not be in, highlighting that the token now risks a 25%-50% drop after losing the $0.20 area as support. Featured Image from Unsplash.com, Chart from TradingView.com
Aave, the largest decentralized lending protocol, has experienced a sharp drop in USDT liquidity to under $100 million following a massive withdrawal by a wallet linked to HTX, a crypto exchange connected to Justin Sun. According to on-chain analyst EmberCN, the wallet removed $570 million USDT from Aave’s lending pool within three hours, slashing the […]
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Sun, a Chinese-born crypto billionaire, is also involved with the Trump-linked ecosystem through a $75 million investment in World Liberty Financial.
The address holds nearly 1.2 million TRUMP worth around $14.5 million, the largest registered for the gala.
The developer of a post-apocalyptic Web3 game sued market maker Jump Crypto for allegedly dumping its coins on the market in breach of its contract.
India ranked first in Chainalysis’ 2024 Global Crypto Adoption Index, in addition to ranking second in the CSAO region in terms of crypto value received.
Coinbase is lagging behind HTX and Bitrue exchange, with around $2 billion in spot trading volumes.
The share of weekend Bitcoin trading volume has been in decline since 2018 but has dropped considerably since the U.S. launch of spot Bitcoin ETFs in early January.
Hong Kong's securities regulators says HBGL Hong Kong Limited withdrew its application for a license on February 23.
Sun then followed up around 15 minutes later saying that all services on HTX had been restored