- According to Sun, millions of HT tokens were given away to Li Wei, the brother of Leon Li.
- The committee will communicate with Li Wei to negotiate a possible reimbursement.
Tron’s founder and a major player in the cryptocurrency industry, H.E. Justin Sun, has revealed a major problem with the distribution of Huobi Tokens (HT) in a tweet. According to Sun, millions of HT tokens were given away to Li Wei. The brother of Leon Li, the HT DAO’s founder, during the inaugural distribution of HT.
In an effort to make amends. The HT DAO committee has taken steps to negotiate a refund and assist in the destruction of Li Wei’s remaining HT tokens. To correct what Sun calls a “token distribution imbalance.” The HT DAO committee, which is in charge of governance and decision-making within the HT DAO community, is stepping in.
Motivated by Justice and Fairness
The committee will communicate with Li Wei personally to negotiate a possible reimbursement. And make provisions for the destruction of any remaining HT tokens he may have. Sun emphasized that the pursuit of this path is motivated by the ideals of justice and fairness, as well as the needs of the HT DAO community as a whole.
A number of allegations related to the SEC’s belief that Sun had offered and sold Tron (TRX) and BitTorrent (BTT) tokens without first registering with the agency were brought against Sun in March 2023.
In early April, it was reported that he had denied selling any shares in the exchange. In addition, he is being held accountable for violations of laws against fraud and market manipulation. While the tweet may provide light on the HT DAO committee’s goals and strategies, it does not give any more information on the precise measures, negotiating process, or expected settlement timeframe.
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