Justin Sun and Li Lin Clash Over $30M Gap in HTX Sale

February 6, 2025

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Justin Sun and Li Lin Clash Over M Gap in HTX Sale

On social media X, there may be an ongoing debate between Justin Solar, a shareholder of the cryptocurrency trade HTX, and Li Lin, specializing in the 2022 sale of Li Lin’s share within the firm.

Justin Solar’s allegation on Li Lin, Supply: X

In a current submit on X, Solar alleged that Li Lin hid vital monetary paperwork, which have created a $30 million inside funding hole. He additionally mentioned that after exposing the difficulty, Li tried to keep away from paying the quantity owed to Black, forcing Solar to lend cash to cowl the loss at the moment.

Li Lin has refuted this allegation and defined that the alleged funding hole was a results of excessive market situations affecting the trade’s margin buying and selling enterprise, not any misleading actions.

He maintains that the difficulty has been addressed by means of HTX’s income and has proven a need to resolve the matter fairly than by means of Hong Kong’s authorized processes fairly than by means of social media disputes.

The October 2022 sale of Li Lin’s share in Huobi has been fraught with controversy. In Might 2023, Justin Solar accused Li Lin’s brother, Li Wei, of acquiring a considerable amount of Huobi’s native HT token with out paying for it, allegedly by means of improper means, in a now-deleted submit on X. Solar vowed to get well and destroy the HT tokens, though he additionally claimed that Li Wei had offered them.

In June 2023, Li Lin took authorized motion in opposition to Huobi International in Hong Kong, asserting that his X-Spot firm owned the rights to the Huobi trademark, regardless of having offered his shares within the trade.

After leaving Huobi, Li Lin co-founded New Huo Know-how Holdings, a digital asset service platform. Harvard acknowledged him because the thirty ninth most beneficiant philanthropist in China.

In the meantime, the U.S. Securities and Trade Fee sued Justin Sun for selling alleged crypto securities in March 2023. Additionally, he has invested over $30 million in World Liberty Financial, a cryptocurrency enterprise supported by President Donald Trump and his household, the place he serves as an adviser.