HTX has announced a significant legal victory as the People’s Court of China ruled in favor of Sun Yuchen, also known as Justin Sun, a prominent member of the HTX Global Advisory Board, in a landmark defamation lawsuit against Chongqing Business Media Group. The ruling, which comes after more than two years of litigation, is a major vindication for Sun and reinforces HTX's commitment to upholding the highest standards of integrity and compliance.
The case originated on March 11, 2022, when Business Media published a video and an article titled "FBI Investigates Justin Sun for Suspected Insider Trading." These publications contained false narratives and unfounded accusations that severely damaged Sun's reputation. After extensive fact-finding and trials, the court found no evidence to support the claims made by Business Media and ruled decisively in Sun's favor. The court has mandated the removal of the defamatory content and has ordered Business Media to issue a public apology.
HTX has welcomed the court's decision, emphasizing its ongoing dedication to compliance and the provision of a secure and reliable platform for its users. This victory is significant not only for Sun but also for the broader cryptocurrency industry, as it highlights the importance of accountability and truthful reporting in media coverage.
Founded in 2013, HTX has grown from a crypto exchange into a comprehensive ecosystem of blockchain businesses, which includes digital asset trading, financial derivatives, wallets, research, investment, and incubation, among other areas. The company serves millions of users globally and operates in over 160 countries and regions across five continents. HTX's development strategies are centered around global expansion, technology-driven growth, and the use of technology for good, reflecting its commitment to providing valuable services to cryptocurrency enthusiasts worldwide.
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