Chinese blockchain personality Justin Sun, who also serves as the de facto owner of crypto exchange HTX (formerly Huobi Global), claims that the firm posted a profit of $98 million in Q3 2023.

According to the October 26 thread, Sun says that HTX generated a total of $202 million in revenues during the quarter, which was offset by $104 million in expenses, leaving a total profit of $98 million. For Q4 2023, Sun projects that HTX will generate $190 million in revenue, along with $88 million in expenditure, for an estimated profit of $104 million.

“The entire third quarter was a severe quarter for the industry,” said Sun, mentioning that the U.S. Federal Reserve’s high interest rates led to…

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