Justin Sun commented on HTX being added to Binance's "blacklist": the restrictions will only affect a portion of users.
Justin Sun, founder of crypto exchange HTX (formerly Huobi), has issued an official statement regarding Binance's decision to add his platform to its list of restricted addresses. According to Sun, the new measures apply exclusively to users in the United Kingdom and the European Union, not to all exchange clients. This statement came just hours after Binance notified about blocking operations with a number of platforms, including HTX.
"I discussed this issue with Binance, and it only concerns Binance users in the UK and EU. Huobi itself does not operate in the UK or the European Union. Our negotiations with British and European regulators are already underway," Sun wrote on social media.
Details of restrictions and Binance's position
It is important to note that Binance's official notice does not mention specific countries or regions. The exchange warned all users that operations with restricted platforms may be suspended for compliance checks after the measures take effect. A total of 11 platforms were included on the list, but HTX became the focus of attention due to the scale of its operations.
Sun's statement that HTX does not operate in the UK raises questions. According to data from the UK Financial Conduct Authority (FCA), in 2023 the HTX website was visited 4.6 million times from the UK — the sixth highest figure among all crypto companies in terms of British traffic. Notably, HTX only closed registration for new British users after the regulator's lawsuit.
It is also worth noting that the statement about negotiations with British authorities is confirmed. A moratorium is in effect at the High Court of London until August 25, and HTX is in talks with the FCA regarding illegal advertising. Sun did not specify which EU body the negotiations are being held with.
Tight deadlines and possible consequences
The situation is extremely tense: Binance will cut off HTX on August 23 — just two days before the moratorium in London ends. This creates serious pressure on both sides and could lead to significant changes in HTX's operations for European and British clients, whose funds may become temporarily unavailable for withdrawal.
My analysis: Sun's attempt to localize the problem looks more like a PR move than a reflection of reality. Given that HTX actively attracted British users before the FCA lawsuit, and Binance made no exceptions in its notice, the risks for HTX's European clients remain high. I recommend that users from the EU and UK withdraw their funds from HTX in advance to avoid blocks in the coming days.