Huobi

Huobi announced that it became the first member of Hong Kong Virtual Asset Consortium (HKVAC). By joining HKVAC, an organization dedicated to providing credit ratings for crypto asset exchanges and trading products. Huobi aims to develop a venture capital database that caters to the needs of the market, actively engage in educating the public about crypto investments, and offer Hong Kong traders a "one-stop" crypto asset trading service. Ultimately, with Huobi Hong Kong (Huobi HK) as the pivot, Huobi is…

Huobi, a virtual asset trading platform, announced to join the BTTC (BitTorrent Chain) ecosystem and to support the development of a layer 2 network based on BTTC. The goal is to promote an on-chain open financial system. BTTC, the L2 solution for Ethereum, TRON and BNB Chain, was launched in December 2021 with ZK (Zero Proof of Knowledge) technology to be introduced later this year. This enables users to build decentralized applications anywhere and provides a secure, low-cost and fast…

In the wake of crypto exchange FTX’s resounding crash, Huobi Global has released an asset transparency report. The publication aims to allay user concerns about the security of their funds amidst growing anxiety industry-wide. Huobi Holds $3.5B Worth of Cryptocurrency Per the report, Huobi global’s reserves are worth an estimated total of $3.5 billion. As of Nov 12, the exchange held 191.84 million units of its native token Huobi token (HT), worth about 900M USD. Huobi’s reserves also include 274k…

Per a report from crypto news outlet Wu Blockchain, some Huobi executives have exited their roles following Justin Sun’s acquisition of the exchange. These appear to be the former chief executive officer and chief financial officer at the company.  Sun May Discharge Several Employees The Twitter report stated that Sun has plans for large-scale dismissal. Huobi currently hosts 1600 staff members which Sun reportedly believes is too much. Sources close to the matter claim the TRON founder’s team now occupies…

Defi Yield Protocol (DYP) announced its listing across multiple leading exchanges including Coinbase, Huobi, and MEXC last month. It also recently provided details on its upcoming Metaverse platform, which will feature interactivity with Cats and Watches Society (CAWS) NFTs. Coinbase revealed the listing of DYP on June 21st, while trading started one day later. Next, MEXC announced it will start listing of DYP for the first time on July 19th. Huobi then added DYP to its platform on July 27th. …

Leading crypto exchange Huobi has started winding down operations in its Thai branch. The exchange announced today, noting that the Thai Securities and Exchange Commission (SEC) revoked its license. As a result, Huobi Thailand plans to shut down operations on July 1, 2022. According to the announcement, the Huobi Thailand team has been trying to contact customers since September last year. The outreach sought to get customers to withdraw their funds from the platform. Additionally, the exchange has put up…

Crypto exchange platforms are a significant player in the cryptocurrency trade process. The importance is well signified by the presence of around 504 crypto exchanges in operation globally. They play the key role of enabling the withdrawal, deposit, and exchange of cryptos. Among these huge numbers, there are those exchanges that stand out by having the highest market capitalization. They get the lion's share of customer traffic thanks to their popularity as well as high liquidity. This article will make…

Bitcoin (BTC) suffered a significant dip in its price, dropping by more than 11% overnight. This dip took the market by storm, with over $1.6 billion liquidated in exchanges within 12 hours.  Bitcoin (BTC) Price Drops Sharply after ATH Bitcoin has been enjoying steady gains in the past two weeks after a reasonably stable end to January. Buoyed by solid fundamentals, the leading coin's price surged past the $50k on February 16 to herald a new bull run.  Since then, BTC's price…

Hong Kong exchanges have reportedly informed regulators about the dangers of the impending new crypto regulations. According to industry stakeholders, the Hong Kong government is set to ban retail trading in the city, severely affecting.  New Crypto Regulation In Development  This development was revealed today by local news outlet the South China Morning Post. According to the report, exchanges within Hong Kong are apprehensive about the government's new crypto regulations.  Hong Kong's Financial Services and Treasury Bureau had put forth…