Justin Sun, shadow owner of the Chinese crypto exchange, Huobi Global on Thursday affirmed that they are planning to lay off around 20% of its staff. Since this announcement, Huobi’s native crypto price has dropped by around 12% in the last 24 hours. However, data depicts that Justin Sun is moving huge amounts of funds amid this drop.

As per whaleAlert, a wallet address linked to Justin Sun has moved $100 million worth of USDC and USDT tokens to some unknown wallet. He moved $50.027 worth of USDT to another wallet. While the same amount of USDT tokens was sent to Justin earlier.

It is interesting to note that around $100 million worth of USDT and USDC were transferred from the Binance, crypto exchange to Huobi Global’s shadow owner in multiple transactions. Earlier, Justin Sun moved around $50 million worth of $50 million worth of USDT to Binance.

The tracker further noted that $100 million worth of USDC and USDT tokens were moved from an unknown wallet to Huobi, crypto exchange.

(By Ashish Kumar)