Cryptocurrency Huobi Token (HT) surged 28% shortly after Justin Sun, the new Advisory Committee Member of crypto exchange Huobi Global stated plans to redevelop the company in a meeting yesterday.
The plan aims to expand the brand, empowerment and business collaboration focused on HT.
Among Huobi Global's advisory committee are Baiyu Capital founder Ted Chen, Tron founder Justin Sun, Valkyrie co-founder Leah Wald and Huobi Global co-founders Du Jun and Wang Yang.
It is understood that the said advisory committee will help develop Huobi Global's business, market, brand, compliance, risk control and other areas.
It was also confirmed that the crypto exchanger will explore the digital asset market globally and will not return to China.
Meanwhile, the Hong Kong-based company About Capital Management intends to have a global strategic advisory board, strategy to increase competitiveness, capital injection in margin and risk allocation fund.
This follows because Leon Li, the founder of Huobi Global has sold his entire controlling stake to the company.
The following announcement resulted in HT price climbing by 28% to $5.21 in the last 24 hours and trading volume exceeding 360%.
While the price of Tron (TRX) jumped 3% due to rumors that Justin Sun is the real buyer and a big investor in About Capital Management, which is the owner of Huobi Global.
But he denied all the allegations and explained that he was actually just an adviser.
