HTX removes WLFI's USD1 stablecoin, converting balances to USDT after WLFI froze HTX addresses citing sanctions.

HTX, a crypto exchange linked to Justin Sun, is removing the USD1 stablecoin from World Liberty Financial (WLFI) on June 7, converting all user USD1 balances to USDT at a 1:1 ratio. This follows WLFI freezing HTX-related blockchain addresses due to sanctions compliance concerns, which HTX disputes, calling the freeze unjustified and demanding reversal. The move comes amid UK sanctions on Huobi Global, a separate entity, and ongoing legal battles between Justin Sun and WLFI over token freeze mechanisms. HTX aims to protect user assets and maintain fair trading by delisting USD1 after suspending related trading pairs.