Huobi has been tagged as insolvent, a claim it has continued to deny.
There has been a discrepancy observed in its USDT holdings according to on-chain sleuth.
On-chain data has shown that a whale pumped massive funds into cryptocurrency exchange Huobi and this boosted the exchange’s holding of Tether (USDT) and Ethereum (ETH). The funds were sent in two separate transactions; the first transaction featured $200 million USDT on Tuesday morning Asia time while the second one was 5,000 ETH, valued at $9.15 million.
Consequently, the deposits brought Huobi’s supply of USDT up to $273 million, according to data from DeFiLlama and its stUSDT supply is now pegged at $400 million. stUSDT is a Sun-backed project described as the “first real-world asset protocol on the Tron Network” though it is not yet widely supported.
There are speculations that this whale who has come to the aid of Huobi might just be TRON founder Justin Sun. The address associated with the transaction is tagged as o

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