Crypto exchange HTX will remove the USD1 stablecoin from its platform and convert customer balances into USDT. The action follows a freeze of exchange wallets by World Liberty Financial. The move stems from compliance with UK sanctions targeting Russian financial networks.
HTX announced the permanent delisting of USD1 beginning June 7. The exchange will convert eligible retail balances into Tether at a one-to-one rate. Trading pairs involving USD1 were suspended on June 5 at 13:00 UTC. The freeze originated from UK sanctions imposed on May 26 against Huobi Global S.A. World Liberty Financial applied protocol-level restrictions to comply. HTX maintains that the affected wallets hold only retail customer funds and has no ties to the sanctioned entity. Molly Fu, an HTX spokesperson, stated that the locked capital belongs to ordinary retail buyers. The exchange demanded an immediate reversal of the restrictions. All related trading pairs will remain offline while negotiations continue. World Liberty Financial has used similar wallet freezes before, including against Justin Sun in September 2025. The USD1 token has a circulating supply exceeding $4.6 billion.
