Sun Yuchen: Huo will fully bear the loss of HT’s leveraged short positions and establish a liquidity fund of US $100 million

According to the news on March 10, Sun Yuchen said that in response to the abnormal fluctuation of HT in the early morning of this day, the Huabi platform will fully bear the loss of leveraged short positions caused by the fluctuation of HT market. We are deeply sorry for the impact of leverage clearing by a few users on the market volatility. In order to further improve the multi-currency liquidity of the Huobi platform, we will invest US $100 million to establish a liquidity fund, continue to improve the depth of mainstream currency, HT liquidity, and strengthen leverage early warning and liquidity capabilities. For this event, we will keep pace with the community on the follow-up progress.

Interpretation of this information:

The news of March 10th announced that Sun Yuchen had made a statement regarding the abnormal fluctuation of HT in the early hours of the same day. It was said that the Huabi platform would take full responsibility for the loss of leveraged short positions caused by this fluctuation. The company apologized for any resulting impact on the market volatility, stating that they will make efforts to improve their multi-currency liquidity.

Furthermore, it was announced that the company would invest US $100 million to establish a liquidity fund designed to deepen the mainstream currency and HT liquidity, as well as to increase leverage early warning signals and liquidity capabilities. The statement concluded by indicating that the company would keep up-to-date with the community regarding any follow-up progress.

In summary, the three keywords pertinent to this message are: abnormal, liquidity, and investment.

Initially, the message indicates that the fluctuation in HT was abnormal, causing Huabi to claim responsibility for all ensuing losses, including the leveraged short positions that were affected. Given the apologies offered and the attempt to rectify the issue with an investment in their liquidity fund, the platform appears to be taking the matter very seriously.

Secondly, the mention of the multi-currency liquidity by the company featured in improving the depth of mainstream currency, HT liquidity, and leverage early warning, which also appears evident. The mentioned liquidity fund creates additional confidence in the platform, allowing traders and investors to trade with a more predictable level of risk.

Finally, the announcement that Huabi would invest $100 million in its liquidity fund underscores its commitment to ensuring its platform’s stability and creating a better trading environment as the cryptocurrency market continues to grow. The message concludes by indicating supporters and stakeholders to stay tuned to any future updates from the company, demonstrating its willingness to remain transparent about its ongoing progress.

Overall, despite the initial disruption caused by HT’s abnormal fluctuations, the steps taken by Huabi seem to suggest that the platform is dedicated to addressing the issue responsibly and transparently.