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Previously, Huobi exchange was rumored to have been acquired by Justin Sun and also that Justin Sun also moved over $100 million in stablecoins to the exchange. Tron founder Justin Sun was rumored to have used About Capital as an intermediary company to acquire Huobi. However, Justin Sun and Huobi Previously denied it.
Justin Sun acknowledged that he joined as an advisor at Huobi. He has previously asked users to ignore the FUD around the strange things happening at Huobi and to keep building.
And now we have rumors about Rat Trading guided by Justin Sun.
Online Media Sources stated the follows:
“Rat Trading is kind of a form of insider trading, but it is a little more complex than that. Basically, imagine you have control over a large amount of money that isn’t for the purpose of you getting rich.
You take some money of what you do actually have or you take some money out of your friend and you have them buy a stock or you have them buy a token or something. You buy a million dollars of it at 50 bucks or something. Then by nature of your control over other funds that are not intended for your enrichment, but because you have discretion of what to do with them, you decide independently that you are going to invest a 100 million dollars in to that same investment right after you bought it on the side.
That then pushes up the price to may be double than it was before – you then tell your friend to sell the million dollar token that they bought now it is worth 2 million dollars because the price as doubled. And now your company can either sell or keep it in account as it does not matter as you have already just made a million dollars off that trade.
So, the kind of accusations here are at least the story we have so far has leaked out has to do something with the tokens in the Huobi Ecosystem that had apparently had people trading them in ways the exchange is not claiming they generated am abnormal amount of profit with – Rat Trading the funny terminology.
It is a kind of weird angle to the story, but it is a Justin Sun Story.”
Now in the news, investors might have to beware of price movements with Huobi Token (HT). Huobi Token (HT) is experiencing extensive Outflows.
