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Huobi HTX and SunPerp Launch $200 Million Trial Fund for Affected Crypto Users

According to Justin Sun, HTX and SunPerp will each contribute $100 million to a joint relief initiative offering 5–10,000 USDT to crypto users hit by recent black swan events.

USDT

Summary

Justin Sun announced via X that HTX and SunPerp will jointly establish a co-creation fund totaling $200 million, with each platform committing $100 million. The initiative will provide compensation from 5 USDT to 10,000 USDT to cryptocurrency users affected by recent black swan events, regardless of platform or blockchain. Detailed eligibility criteria and claim procedures will be announced soon, ensuring inclusivity and transparency for impacted participants.

Terms & Concepts
  • Black Swan Event: An unpredictable or rare market occurrence that causes significant price volatility or disruption in financial markets.
  • USDT (Tether): A stablecoin pegged to the US dollar, commonly used for trading and liquidity in the cryptocurrency market.
  • Co-Creation Fund: A jointly financed pool of capital established by multiple entities to support targeted initiatives or provide relief to affected stakeholders.