There have been rumors swirling about potential financial difficulties at Huobi, a cryptocurrency exchange with which Justin Sun is affiliated.

These rumors were exacerbated by the fact that Huobi China fired and rehired its staff to Huobi Global and laid off a large number of employees, while also canceling bonuses.

Adding to the speculation, Sun withdrew $1.1 billion from various exchanges in December and more recently received $200 million from the Binance exchange to his personal wallets.

While it is not clear if these actions are connected to potential issues at Huobi, the absence of concrete evidence has led some to speculate about the exchange’s solvency.