Huobi ordered to cease operations by Malaysian regulators

Crypto exchange Huobi was ordered to stop operating in Malaysia by the Securities Commission (SC) of the Asian country. The regulator issued a public reprimand to Huobi CEO Leon Li. In a May 22 press statement, Malaysia’s SC said Huobi operated in the country illegally because it failed to register as a digital asset exchange…

Justin Sun sets up $100M Huobi liquidity fund following HT flash crash

Ad Huobi has set up a $100 million liquidity fund following a 90% flash crash of the exchange’s Huobi Token (HT) on March 9. The exchange’s global adviser Justin Sun confirmed this development, adding that the funds have been sent to the exchange. HT is yet to recover from its flash crash fully. According to…

FTX User Debt (FUD) tokens decline 10% as 18M burn becomes imminent

Latest Report Is the crypto bottom in? On-chain says yes, macro says pain occurs after the fed pause Is Bitcoin poised for a new low or has the bottom been set at $15,500? CryptoSlate analyzed on-chain and macro data to present both sides of the argument. Andjela Radmilac · 3 days ago

Huobi sees net ouflows of over $60M in 24 hours

Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days –$60 million (63.8%) of the outflows were recorded in the previous 24 hours — according to Nansen data. DeFillama’s data shows that the exchange’s outflow in the last 24 hours had exceeded $70 million as of press time. The data shows…

Huobi confirms lay-offs amid rampant FUD over operational stability

Tron (TRX) founder Justin Sun plans to lay off roughly 20% of Huobi’s staff, Reuters reported on Jan. 6. According to the report, the exchange is planning a “structural adjustment” expected to be completed within the first quarter. An internal memo from Sun described the move as a “short-term pain” that could bring more advantages…

Huobi, Gate.io, Crypto.com see spikes in flow to FTX

The full consequences of the FTX fallout are still unknown. As FTX, its U.S. subsidiary, and Alameda Research all filed for bankruptcy protection, it could be months before the public gets to see what happened in Sam Bankman-Fried’s crumbled trading empire. Until that happens, what we’re left with is on-chain data that can point us…

Crypto exchanges to publish ‘proof-of-reserves’ following FTX’s implosion

Several leading crypto exchanges, including Binance, Huobi, OKX, KuCoin, etc., have revealed intentions to publish their fund reserves to arrest the current contagion fears grappling the crypto market. Binance CEO Changpeng Zhao advised that crypto exchanges should do a Merkle-tree proof-of-reserves. According to him, while traditional financial institutions like banks can run on fractional reserves,…

Huobi eyes US expansion with new FinCEN license

Huobi  said July 5 that its subsidiary HBIT received a license from the U.S. Financial Crimes Enforcement Bureau’s (FinCEN) Money Services Business Registration (MSB) to operate in the country. The license provides a good foundation for the exchange’s digital currency-related businesses in the U.S., according to the press statement. Financial institutions like crypto exchanges in…

Crypto exchange Huobi shuts its crypto derivative trading business in China

Chinese Yuan Now Below 1% of Total Bitcoin Trading Volume, Down From Peak of 90% In an attempt to stem growing enthusiasm for cryptocurrency trading among the Chinese public, the Chinese government has been cracking down hard of cryptocurrency traders and speculators, banning cryptocurrency exchanges and outlawing ICOs. 3 min read →