HTX Delists Trump-Linked Stablecoin Amid Asset Freeze Dispute

Cryptocurrency exchange HTX has taken the drastic measure of delisting the Trump-linked USD1 stablecoin due to a dispute over frozen user assets. According to HTX, World Liberty Financial (WLFI) unilaterally froze certain addresses without sufficient prior communication or legal grounds, violating users' rights and interests.

HTX claims that this action was taken in response to evaluations about sanctions compliance, but the exchange argues that it should not be affected by the UK's sanctions on Huobi Global S.A., a separate entity from HTX. The exchange has demanded that WLFI unfreeze its addresses and is taking legal action to protect its users.

As a result of the delisting, users will have their USD1 holdings converted to Tether (USDt) at a 1:1 ratio. Deposit and conversion services for USD1 are no longer available, and trading pairings for WLFI/USDT, USD1/USDT, BTC/USD1, and ETH/USD1 have been halted.