Justin Sun, founder and CEO of Tron, is now leading Singapore-based exchange Huobi as a member of the Global Advisory Board.
This news comes shortly after Hong Kong-based investment company About Capital Management became the majority stakeholder of Huobi.
Sun has also confirmed that he owns tens of millions of Huobi’s HT tokens. The exchange has addressed concerns of so-called rat trading.
Huobi said it has “zero tolerance for rat trading” and is conducting in-depth audits, holding responsible people accountable and publicizing information in due time.
Huobi also recently came under scrutiny for how it handled its layoffs of around 1,600 people in January.
The exchange has taken steps to ensure the interests of its employees and users are protected. Although there were rumors that Sun might be a shadow investor behind About Capital, representatives for Sun have denied these claims.