Sun refutes the scale of the block: Binance's restrictions on HTX apply only to the EU and Britain.
HTX founder Justin Sun has issued an urgent statement aimed at calming panic among exchange users. According to him, placing HTX on Binance's "blacklist" is a targeted move that affects exclusively clients from the United Kingdom and the European Union, not the global audience. This statement came just a few hours after Binance officially announced restrictions on operations with a number of crypto platforms.
Sun emphasized that he personally discussed the situation with Binance's management and received confirmation: it concerns users under the jurisdiction of British and European regulators. Notably, Binance's notification itself did not mention specific countries at all — it was addressed to all users without exception. This discrepancy in interpretations has already sparked a wave of questions in the community.
Key statements and facts
Sun also reported that HTX is already in negotiations with UK and EU regulators to reach a settlement. He assured that affected users can contact HTX support, and the exchange will resolve their issues on an individual basis. However, his words that HTX "does not operate" in these regions raise skepticism: data from the UK Financial Conduct Authority (FCA) shows that in 2023, the HTX website was visited 4.6 million times from the UK, placing the exchange sixth in traffic among crypto companies in the country. Registration for new British users was only closed after a regulator lawsuit.
The timing of events is extremely tense. Binance will disconnect HTX on August 23 — just two days before the moratorium expires in the London court, which is in effect until August 25. Sun himself did not specify which EU body the negotiations are being held with, adding uncertainty to an already confusing situation.
My analysis: Sun's statement is a classic attempt to manage reputational damage, but it does not remove the main question: why did Binance, whose policy is usually clearly segmented by region, issue a global notification this time? We are likely seeing only the tip of the iceberg, and the real reasons may lie in the realm of compliance and regulatory pressure, not just consumer protection. The market should prepare for further clarifications, but trust in HTX has already been undermined.