Huobi in Hot Water (Patreon)

Apparently 90% of assets are gone.... again keep nothing on CRYPTO CEXs

BINANCE

Huobi has a connection with Binance - this could all turn into a grey swan for the Crypto space. 

TETHER

There are a few possible reasons why Tether is selling off. One possibility is that Huobi, a major cryptocurrency exchange, is insolvent. This is supported by the fact that Binance, another major exchange, has started selling off USDT in bulk. Additionally, Huobi executives and Tron personnel have been questioned by the police, which could be a sign of financial trouble.

Another possibility is that Tether is simply trying to reduce its exposure to the cryptocurrency market. This could be due to concerns about the overall health of the market, or it could be because Tether is facing regulatory scrutiny.

Finally, it is also possible that Tether is selling off in order to fund the launch of its new stablecoin, stUSDT. stUSDT is a stablecoin that is backed by Tron, and it is possible that Tether is selling off USDT in order to acquire Tron tokens.

h/t to Sanjay for sharing top chart