The Huobi crypto exchange and Tron DAO have promised to help users with the exchange of tokens of the Tron ecosystem (TRX) in a ratio of 1:1 if they get stuck on FTX.
The Huobi cryptocurrency exchange and the decentralized autonomous organization Tron DAO have promised to exchange tokens of the Tron ecosystem in a ratio of 1:1, in the event that users will not be able to withdraw them from their FTX accounts. This is stated in the statement.
The Huobi team promises to redeem tokens of the Tron ecosystem, including TRON (TRX), BitTorrent (BTT), Just (JST), Sun Token (SUN) and the native token of the Huobi crypto exchange (HT), hosted on FTX.
According to Justin Sun, the founder of the Tron blockchain and a member of the Advisory Board of the Huobi Global exchange, the crisis around FTX caused a panic about asset security. According to him, the team is watching the development of the situation with a heavy heart.
Meanwhile, it became known earlier that it was the FTX crypto exchange that financially helped Justin Sun to buy out the Huobi crypto exchange.
According to Justin Sun, Tron token holders complain to him and the Huobi team that they cannot pick up their coins placed on FTX. To help support the holders, the crypto exchange promised to give them new tokens to replace those stuck on FTX.
To get new tokens, you need to fill out an application using the link provided in the announcement on the Huobi website. The user is asked to provide an email address, an account number on Huobi, an ID on FTX, the number of TRX, BTT, JST, SUN, HT tokens placed there, and other relevant information. The Exchange uses this information for compensation.
Earlier, the Binance crypto exchange signed a non-binding letter of intent to absorb FTX in the near future to "solve liquidity problems." FTX founder Sam Bankman-Fried confirmed the competitor's plans. According to him, the teams of the two crypto exchanges are already working to eliminate the accumulated debt on withdrawal of funds. Bankman-Fried also promised that all assets will be covered in a one-to-one ratio.