{"id":76978,"date":"2023-04-10T18:57:25","date_gmt":"2023-04-10T15:57:25","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76978"},"modified":"2025-09-10T20:33:49","modified_gmt":"2025-09-10T17:33:49","slug":"huobi-reports-150-million-revenue-for-q1-2023","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/huobi-reports-150-million-revenue-for-q1-2023\/","title":{"rendered":"Huobi reports $150 million revenue for Q1 2023"},"content":{"rendered":"<p>In the first quarter of 2023, Huobi&#8217;s revenue stood at $150 million against expenses of $120 million. This was disclosed by Justin Sun, founder of Tron.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p lang=\\\"zh\\\" dir=\\\"ltr\\\">The first quarter has ended, disclosing the group&#8217;s financial status to the public to enhance transparency. The Q1 market was in a bear market, Huobi&#8217;s main exchange business is in the process of integration. The group revenue was $150 million, expenses $120 million, recording a profit of $30 million. In Q1, a large number of cost-cutting and efficiency-improvement measures were taken; a conservative forecast for Q2 revenue is $187 million, expenses $76 million, and quarterly profit of $111 million.<\/p>\n<p>\u2014 Sun Yuchen?????? (@sunyuchentron) <a href=\\\"https:\/\/twitter.com\/sunyuchentron\/status\/1645366519260655616?ref_src=twsrc%5Etfw\\\">April 10, 2023<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>Net profit stood at $30 million. Sun forecast that in April\u2013June this figure would rise to $110 million.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\\&#8221;In the first quarter, a large number of measures were taken to cut costs and improve efficiency,\\&#8221; wrote the founder of Tron.<\/p>\n<\/blockquote>\n<p>In the autumn of 2022, the platform agreed <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-global-agrees-to-sell-controlling-stake-to-hong-kong-based-about-capital-management\">the sale of a controlling stake<\/a> in the Hong Kong-based investment company About Capital Management and <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-cryptocurrency-exchange-announces-rebranding\">announced a rebranding<\/a>, as a result of which it dropped the official name Huobi Global.<\/p>\n<p>According to media reports, the ultimate beneficial owner of the purchase <a href=\"https:\/\/u1f987.com\/en\/news\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\">was Sun<\/a>. The entrepreneur denied these reports, explaining that he had become a member of the exchange&#8217;s advisory board. Additionally, he admitted that he is a <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-token-climbs-85-in-a-week-as-justin-sun-reveals-a-large-ht-stake\">major holder of HT tokens<\/a>.<\/p>\n<p>Earlier on April 1, <a href=\"https:\/\/u1f987.com\/en\/news\/justin-sun-denies-reports-of-stake-sale-in-huobi\">Sun denied reports<\/a> of selling a stake in Huobi, calling it an &#8216;\\u2014April Fool&#8217;s prank&#8217;.<\/p>\n<p>Subsequently, media outlets reported that Binance had <a href=\"https:\/\/u1f987.com\/en\/news\/binance-rejects-justin-suns-bid-to-buy-huobi-stake\">proposed<\/a> to participate in the deal, but the exchange declined. Sun said in response that he had not initiated such initiatives.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In the first quarter of 2023, Huobi&#8217;s revenue stood at $150 million against expenses of $120 million. This was disclosed by Justin Sun, founder of Tron.<\/p>\n","protected":false},"author":1,"featured_media":76979,"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],"class_list":["post-76978","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-huobi","tag-justin-sun"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76978","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76978"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76978\/revisions"}],"predecessor-version":[{"id":76980,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76978\/revisions\/76980"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76979"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76978"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76978"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76978"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}