HTX Reports $98 Million Profits Despite Industry Challenges

HTX Reports Profits Amid Industry Challenges and Staff Cuts

The figure behind HTX (formerly Huobi Global), Justin Sun, reports a Q3 2023 profit of $98 million. Despite industry obstacles caused by high US Federal Reserve interest rates.

Sun expects a positive Q4 with an estimated $104 million profit. However, HTX cut staff from 2,500 to 900 amid dissatisfaction over salary and bonus reductions due to falling revenue.