Stems from a smaller Chinese news account that has had historically accurate news
https://twitter.com/wublockchain12/status/1687786987942776832
According to Techub News, at least three executives of Huobi were taken away by the Chinese police for investigation, involving manpower, R&D, and finance. Some employees said they received an emergency notice and asked to leave the country as soon as possible.
The most damning part of this might be…
https://twitter.com/adamscochran/status/1687839342188748800
So the Chinese police may have just arrested team members that would have access to the minting key of the stablecoin backing up Binance....
TUSD being compromised could jeopardize Binance operations after Binance has recently chosen to rely on it even more, incorporating it in its “SAFU” fund.
This hasn’t been 100% confirmed yet but erring on the side of caution after Tron execs have been funneling money from a casino bucket shop wouldn’t hurt. Tron/Huobi execs being arrested by CCP authorities with direct access to minting functions could have disastrous implications resulting in systemic contagion.
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