HTX’s Justin Sun claims record profits despite staff cuts

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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