- Justin Sun grants the FTX token holders’ request to withdraw TRON-based tokens via the FTX exchange.
- This move aims to protect TRON holders and a bid to save the industry, says Justin Sun.
- Users who wish to swap their tokens into Huobi should fill out a form.
Justin Sun’s crypto trading platform Huobi announced that the firm would allow FTX users to swap their TRON-based tokens on the FTX platform at a 1:1 ratio into their Huobi accounts.
Read CRYPTONEWSLAND on
google news
This move aims to protect the TRON token holders amid the ongoing liquidity crisis happening at crypto exchange FTX after the troubled exchange halts non-fiat customer withdrawals, says the founder of open-source blockchain platform TRON in a tweet.
An open letter addressed to the TRON and Huobi community revealed that the team has received numerous feedback from the FTX token holders who would want to withdraw from the FTX platform.
Sun said he and his team were deeply concerned about the liquidity crisis as it could expand into an industry-wide disaster. “If the industry is in trouble, everyone should contribute their own strength,” the team pointed out.
Therefore, after careful deliberation, TRON and Huobi decided to permanently allow TRX, BTT, JST, SUN, and HT holders in the FTX platform to exchange these tokens for all TRON-based tokens. Users who wish to swap the tokens should fill out a form, along with their Huobi account, as it will be the firm’s basis to reconcile with the FTX platform about the withdrawal of their frozen tokens.
Furthermore, the team gave their full support to the FTX acquisition of crypto exchange Binance. Both TRON and Huobi’s efforts to “give maximum support and help to the FTX platform,” was their bid to save the industry itself.
Recommended News :
disclaimer read moreCrypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
