HTX – Huobi’s rebranded international exchange – has had its best quarter ever, according to CEO Justin Sun. Although the rebranded exchange got off to a rough start with several hiccups, things have started moving in the right direction, Sun claimed. Drastic Measures Taken to Ensure Success Earlier this year, HTX faced an employee revolt....Read More
HTX, formerly Huobi, has released its Q3 2023 financial report, revealing a robust revenue of $24.75 million. The cryptocurrency exchange has allocated 20% of this earnings for its quarterly token burn, amounting to approximately two million HT coins. This strategic move is poised to have significant implications for the HT ecosystem, enhancing transparency and community...Read More
In a bold move aimed at safeguarding consumers, the FCA added 145 digital asset companies, including major exchanges Huobi-owned HTX and KuCoin, to its warning list. This decision follows the FCA’s expansion of regulations to include cryptoasset service providers, regardless of their geographical location. Cracking Down on Crypto The United Kingdom’s Financial Conduct Authority (FCA)...Read More
In late September, HTX – Huobi’s rebranded global exchange – was hit by an attack that left it almost $8 million in the hole. The attacker made off with 4,997 ETH, worth about $7.9 million, from the exchange’s hot wallet. At the time, HTX CEO Justin Sun stated that the identity of the attacker had...Read More
Earlier this week, cryptocurrency exchange HTX, formerly Huobi, lost roughly 5,000 ether (ETH) worth $7.9 million to a hacker. The attacker had compromised the exchange’s hot wallet and siphoned the assets in one swipe. While Tron founder and HTX advisor Justin Sun assured users that their assets were safe and the exchange would cover the...Read More
Seychelles-based cryptocurrency exchange HTX (formerly Huobi) has lost $7.9 million worth of ETH to a hacker, on-chain data shows. The exchange has already identified the culprit and is ordering a return of funds with the threat of legal action. As noted by blockchain security firm Peckshield, exactly 4999 ETH ($7,866,926.30) left Huobi’s wallet on Sunday...Read More
Some of the most trending memecoins in the past few months – SHIB, BONE, and LEASH – have captured the attention of numerous cryptocurrency exchanges. One such marketplace that recently listed the assets on its platform is the Australia-based GroveX. SHIB, BONE, and LEASH Expand to Australia The crypto exchange announced the news on X...Read More
Grayscale’s victory over the SEC could be seen as a major setback for the financial regulator, which has intensified its enforcement efforts against the cryptocurrency industry. However, this landmark win did not translate into a notable increase in the accumulation of crypto assets in the spot market. In fact, CCData’s latest report disclosed that the...Read More
Huobi founder Li Lin has accused the crypto exchange of using the Huobi trademark, an action that supposedly goes against the agreement in the original acquisition contract. According to Chinese crypto reporter Colin Wu, X-Spot Co. Limited, controlled by Li Lin, has filed a lawsuit in the High Court of the Hong Kong Special Administrative...Read More
Huobi Global announced gearing up for the launch of its Hong Kong division on June 1st for users in the city-state. The expansion comes in the backdrop of the Hong Kong securities regulator – Securities and Futures Commission’s (SFC) decision – to allow retail trading in cryptocurrencies has come after a year of turmoil in...Read More
The Securities Commission Malaysia (SC) has reportedly accused Huobi of running a cryptocurrency exchange without the necessary authorization. As such, the watchdog urged the company to disable its website and mobile application in the country. Huobi On Target As reported by The Malaysian Reserve, the SC has alleged that Huobi and its CEO – Leon Li...Read More
Huobi had reportedly withdrawn all its assets from Signature and Silvergate Bank prior to their demise. However, numerous other platforms and crypto-related firms got burned from their existing exposure to the aforementioned banks, including Coinbase and Paxos. Huobi disclosed to Reuters that its customers’ funds remain unaffected by the recent banking crisis in the USA since...Read More
The native token of the crypto exchange Huobi Global – HT – spiked around 16% after Justin Sun outlined the company’s intentions to obtain a trading license in Hong Kong. If secured, the authorization will allow the platform to offer a wide range of digital asset services and products to domestic consumers. Justin Sun –...Read More
It’s been over half a year since the Harmony bridge was breached, allowing hackers believed to be a part of the Lazarus Group to make off with about $100 million in cryptocurrencies at the time they were stolen. Multiple Cashout Attempts Nearly $91 million of those funds have seen attempted cashouts so far. The most...Read More
Seychelles-headquartered crypto exchange – Huobi Global – has been in trouble for quite some time now, which has translated into losing significant market share. The company has been mired in controversy for allegedly shutting down internal com and feedback channels and canceling various employee benefits, among other things. Its market share is also under threat...Read More
Smartphone-based blockchain mining project Pi Network has issued another clarification on the unauthorized listing of Pi coins, saying they are not available for trading yet. Pi Network has been in existence since 2018 and launched its Pi coin for mining by its community members, called “Pioneers,” in March 2019. These assets can be traded once...Read More
In a bid to weather the unprecedented turmoil in the market, Huobi is the latest company to introduce job cuts. The crypto exchange is planning to lay off about 20% of its staff, a move that was confirmed by Tron founder and a member of Huobi’s global advisory board – Justin Sun. In a text...Read More
Popular cryptocurrency exchange Huobi will lay off a significant portion of its workforce and cut the salaries of senior employees, according to Chinese reporter Colin Wu. Last month, the exchange debunked speculation that it would slash its headcount because of the high number of employees at the company. But people familiar with the matter have...Read More
Huobi Research, an affiliate of Huobi Global, estimated in its Global Crypto Annual 2022-2023 Report that the prices of bitcoin and ether will start surging after the first quarter of 2023. Until then, they might find a bottom at $15,000 and $1,000, respectively. The company touched upon the FTX’s meltdown, describing it as “one of...Read More
Cryptocurrency exchange Huobi announced the launch of the world’s first national token, DMC (Dominica Coin) and Dominica DID, under the authorization of the government of the Commonwealth of Dominica. For the project, Huobi tapped Tron Network and DMC Labs. According to the official press release, both Dominica DID and DMC were originally issued on the...Read More
The stunning FTX collapse has sent shockwaves down the crypto market. The latest firm to fall victim is Huobi’s brokerage subsidiary, Hbit Limited. The Hong Kong-based company has revealed that it is unable to withdraw $18.1 million worth of cryptocurrencies deposited in FTX. Out of the total funds stuck in FTX, $13.2 million are the...Read More
Huobi’s native stablecoin – HUSD – lost its parity with the American dollar and tumbled by nearly 70% after the exchange delisted the asset last week. At one point, its valuation dropped to $0.28, the lowest level in its three-year existence. The leading cryptocurrency platform Huobi announced last week it will no longer support trades...Read More
Seychelles-based crypto exchange Huobi will no longer support trades for its native stablecoin, HUSD. Users with funds stored in that token will have their assets auto-converted into USDT – the world’s largest stablecoin – at a 1:1 ratio. In an announcement on Thursday, the exchange explained that the delisting is “in compliance with Article 11...Read More
The Chinese entrepreneur and Founder of TRON Foundation – Justin Sun – claimed he holds “tens of millions” of Huobi Tokens. He also said his new role as a Global Advisor at Huobi could allow him to accelerate the development of the digital asset. A few days ago, the crypto exchange Huobi launched a Global...Read More
Huobi Token (HT) – the native cryptocurrency of Huobi Global – spiked by approximately 18% hours after Justin Sun confirmed he will take an advisory role in the exchange. The recently announced Global Advisory Board will aim to guide the company’s business efforts and expansion plans, as well as receive a fresh investment. Huobi announced...Read More
Just a week after Huobi Global revealed a change in the shareholder structure, Tron founder Justin Sun’s role as a shadow owner of the crypto exchange surfaced. He has, however, refuted claims about a buyout. In fact, Sun’s role has been limited to that of a global advisor. The development follows reports of Huobi founder...Read More
Within the span of two weeks, three major crypto exchanges – Binance, FTX and Huobi – have signed separate MoUs with the Busan City Government to drive the development of South Korea’s blockchain infrastructure. With the country constantly at the forefront of the global crypto space, the announcements of the various partnerships mark a...Read More
FTX founder and CEO Sam Bankman-Fried, also known as SBF, clarified that there are no plans to acquire cryptocurrency exchange giant Huobi, contrary to previous reports. Previously, TRON’s Justin Sun also denied similar rumors. Sam Bankman-Fried made the clarification in a tweet on Monday (August 29, 2022). According to the billionaire: “Just to be explicit...Read More
The Seychelles-based cryptocurrency exchange Huobi has provided a timeline explaining its actions during HUSD’s de-pegging event on Thursday. The exchange confirmed that the problem began with the stablecoin’s issuer. According to a tweet from Huobi, the firm detected “unusual price fluctuations” from its namesake stablecoin at 10:05 UTC on August 18. Within five minutes, Huobi...Read More
Cryptocurrency exchange giant Huobi will cease offering its derivatives trading services to New Zealand customers two months after the company obtained registration from the country’s regulators. In an announcement on Tuesday (August 16, 2022), Huobi said it would restrict users in New Zealand from accessing derivatives trading services starting from August 23, 2022. According to...Read More
