{"id":86294,"date":"2023-10-27T14:54:43","date_gmt":"2023-10-27T11:54:43","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=86294"},"modified":"2025-09-13T04:38:04","modified_gmt":"2025-09-13T01:38:04","slug":"justin-sun-reports-htx-quarterly-profit-of-98-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/justin-sun-reports-htx-quarterly-profit-of-98-million\/","title":{"rendered":"Justin Sun reports HTX quarterly profit of $98 million"},"content":{"rendered":"<p>For July\u2013September, HTX (formerly Huobi) posted net profit of $98 million. TRON co-founder Justin Sun, who<a href=\"https:\/\/forklog.com\/en\/news\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\"> is credited with control<\/a> over the Bitcoin exchange, announced the result.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The third quarter has ended; Q3 actual revenue was $202 million, expenses $104 million, profit $98 million, QoQ up 14%, with group revenue growth and cost-cutting measures continuing to take effect. Q4 revenue is forecast at $190 million, expenses $88 million, profit $104 million. <a href=\"https:\/\/t.co\/8cBsL4v7vn\">https:\/\/t.co\/8cBsL4v7vn<\/a><\/p>\n<p>\u2014 H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1717550486608642061?ref_src=twsrc%5Etfw\">October 26, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>HTX and related entities posted $202 million in revenue for July\u2013September, with costs of $104 million. In October\u2013December Sun is conservatively expecting $190 million and $88 million respectively, which would yield a net profit of $104 million.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>&#8216;In the fourth and in the first quarter of the next year the market will enter a spring recovery. We are firmly confident in further improvement of financial metrics.&#8217;<\/em> he explained.<\/p>\n<\/blockquote>\n<p>Over the preceding four quarters the platform<a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-admits-huobi-is-loss-making\"> recorded losses<\/a>, which required trimming spending on marketing, advertising and salaries.<\/p>\n<p>In August 2023 the exchange <a href=\"https:\/\/forklog.com\/en\/news\/huobi-faces-funds-outflow-amid-insolvency-rumours\"> faced an outflow<\/a> of funds amid rumours of insolvency \u2014 as a result, the total value of blocked assets fell by almost $54 million.<\/p>\n<p>Earlier Sun disclosed<a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-reveals-details-of-htx-rebrand\"> details of HTX rebranding<\/a>.<\/p>\n<p>In November 2022, media reported a possible merger between Huobi and Poloniex, which Sun with a group of investors bought in 2019.<\/p>\n<p>Entrepreneur <a href=\"https:\/\/forklog.com\/en\/news\/justin-sun-does-not-rule-out-a-merger-between-huobi-and-poloniex\">denied rumors<\/a>, but did not rule out such a development in the future. The platforms <a href=\"https:\/\/forklog.com\/en\/news\/huobi-signs-strategic-partnership-with-poloniex\">established a strategic partnership<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Justin Sun: HTX (formerly Huobi) posted net profit of $98 million for July\u2013September.<\/p>\n","protected":false},"author":1,"featured_media":86295,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[230,1302,951],"class_list":["post-86294","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-huobi","tag-justin-sun","tag-tron"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86294","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=86294"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86294\/revisions"}],"predecessor-version":[{"id":86296,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/86294\/revisions\/86296"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/86295"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=86294"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=86294"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=86294"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}