Huobi's move follows a similar decision by crypto exchange OKEx, which resolved to dissolve its China-based entity in late June.
Huobi is a Chinese web-platform for cryptocurrency exchange and the second largest in the country. It was founded by Leon Li in 2013. Huobi has gained popularity following the closure of BTCC. All popular fiat and cryptocurrencies are available, but the main pair here is BTC/CNY. The official website has 10 languages. The average amount of trading per day reaches 127,000 BTC, which makes the Huobi exchange the third largest in the crypto industry. Recently, it was announced that Huobi will be issuing their own token developed by the company’s programmers as an extra tool for paying Huobi fees and to make transactions easier, faster and more convenient. The Huobi coin can be bought only on the platform for BTC, BTH, ETH, ETC, LTC and USDT.
Transaction fees can be expensive on decentralized exchanges — but this platform says it allows payments to be completed with minimal costs thanks to a dual mining mechanism.3096
The exchange's decision aligns squarely with Beijing's ongoing and multi-pronged crackdown on the country's cryptocurrency investors in its attempt to prevent both capital outflows and volatility in the crypto sector.4708
Chinese users will no longer be able to trade crypto derivatives on the Huobi exchange amid a broader cryptocurrency crackdown from the government.3950
Chinese journalist Colin Wu speculated that the move from the crypto exchange would likely drive users to Binance for higher leveraged trades.2143
The decentralized exchange Mdex and yield aggregator Filda represent roughly $2.4 billion of Heco’s $2.7 billion TVL combined.6712
The leading cryptocurrency exchange is also reducing its services in mainland China amid fears of growing regulatory scrutiny.25637
CSPR appears to be following DOT’s route to success as its IOU token latched on to the bull market’s momentum and rallied 2,300% before it's even listed on major exchanges.77688
Huobi Asset Management is targeting institutional investors with its new crypto-focused private equity offerings.7101
The major crypto exchange has long claimed registration in the famous offshoring haven.4314
Vincent Lau, formerly of Bitfinex and OKEx, has joined Huobi Global as its new managing director.7407
A Huobi subsidiary has been given the green light to operate a crypto investment fund by regulators in Hong Kong.3946
Crypto industry concern mounts ahead of the likely introduction of a bill to ban retail traders from cryptocurrency activities in Hong Kong.20382
Bitcoin perpetual futures buyers are paying a 5.4% weekly funding rate to keep their positions open, but is this sustainable?22014
Key Bitcoin price metrics show the recent 12% drop to $30,800 has not stopped traders from buying dips ahead of this Friday's $4.9 billion BTC futures expiry.20652