HTX Delists USD1 Stablecoin, Converts Holdings to USDT Amid WLFI Address Freeze on June 6

According to HTX's official statement on June 6, the exchange delisted USD1 stablecoin and converted user holdings to USDT at a 1:1 ratio. The move followed World Liberty Financial (WLFI), USD1's issuer, freezing HTX's on-chain address citing UK sanctions compliance review. Trading support for USD1 ended on June 7 at 3:00 AM UTC, with converted USDT to be credited to users' spot accounts.

The action stems from the UK government's May 26 sanctions against Huobi Global S.A., HTX's operator, over allegations of providing financial services to entities linked to Russia's "war economy." HTX stated it complies with all applicable laws and that user funds remain secure.