Sun commented on the blocking of HTX on Binance: restrictions and the fate of user funds.
HTX founder Justin Sun stated that Binance's restrictions on his exchange apply exclusively to users in the United Kingdom and the European Union. However, Binance's official notice makes no mention of geographic filters — this discrepancy warrants close attention.
The situation has escalated to the limit: Binance announced it would block operations with HTX, and Sun rushed to provide clarifications just a few hours after the warning was published. According to him, he has already held talks with Binance representatives, and the matter concerns only clients from the UK and the EU. He also emphasized that HTX does not operate in those jurisdictions, and negotiations with British and European regulators are already in an active phase.
Justin Sun's comment
"I discussed this issue with Binance, and it concerns only Binance users in the UK and the EU. Huobi itself does not operate in these regions. Our negotiations with British and European regulators are already underway," Sun wrote on social media.
He also assured that affected clients can contact HTX support, and the exchange will help resolve issues on a case-by-case basis. However, this position looks like an attempt to smooth things over, especially given that Binance did not single out any specific country in its notice but addressed the warning to all users without exception.
Binance restrictions and HTX's position
Binance clearly warned: operations with restricted platforms may be suspended for compliance checks after new rules take effect. The list included 11 platforms, including HTX. But Sun's claim that HTX does not operate in the UK raises questions. The UK Financial Conduct Authority (FCA) reports that in 2023, the HTX website was visited 4.6 million times from the UK — ranking sixth among crypto companies by British traffic. And only after the regulator's lawsuit did HTX close registration for new British users.
As for negotiations with authorities — Sun's words here are confirmed. A moratorium is in effect at the High Court until August 25, and HTX is in talks with the FCA over illegal advertising. However, Sun did not specify which EU body consultations are being held with, leaving room for speculation.
The timeline is extremely tight: Binance will cut off HTX on August 23 — two days before the moratorium ends in London. This creates a unique situation where exchanges must balance regulatory pressure and operational flexibility.
My analysis: Sun's statement is a classic PR move aimed at calming the market, but the facts point to a more serious problem. If Binance has indeed restricted HTX globally, it signals growing pressure on offshore platforms. I advise HTX users from any jurisdiction to closely monitor updates and not delay withdrawing funds if in doubt.