Cryptocurrency exchange Huobi experienced outflows totaling $64 million over the weekend, continuing a prolonged decline in the exchange’s total close value (TVL) to $2.5 billion from $3 billion a month ago.

A well-known crypto analyst on Twitter – recently caused bewilderment by making a series of statements regarding Huobi’s apparent financial instability. He reported that global cryptocurrency heavyweight Binance has started a massive sell-off of Tether (USDT), one of the leading stablecoins.

Why is the Tether sell-off happening? Most likely because of Huobi’s insolvency,” Cochran pondered.

He linked these observations to recent rumors that Huobi executives and employees of Tron, a blockchain platform, have been questioned by police.

A list of the names of those detained was published, which he said included the heads of human resources, server operations, product and technology blockchain – all of whom reported to Tron’s CTO. However, the tweet has since been deleted.

The missing funds are being used possibly to keep Tron, Poloniex and other DeFi applications managed by Sun profitable. But even these amounts suggest that Sun “appears to have only about half of the total commitment to Huobi.”

Huobi has had other problems this year, from laying off 20% of its staff in January to being ordered to cease operations in Malaysia. At least one senior executive has left the exchange in recent weeks.