Former Huobi-linked entity says it has $18.1 million stuck on FTX
Lin Li, the company’s founder, has agreed to lend up to $14 million to New Huo Technology to bail out affected clients. According to a new filing with the Stock Exchange of Hong Kong on Nov. 14, investment holdings company New Huo Technology, formerly known as Huobi Global, has $18.1 million worth of deposits stuck on troubled cryptocurrency exchange FTX. Of this amount, $13.2 million consists of clients’ deposits and $4.9 million comprises assets belonging to Hbit, another subsidiary. New Huo Technology is majority-owned by Chinese businessman Lin Li, who also created Huobi Global, the....
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Huobi's move follows a similar decision by crypto exchange OKEx, which resolved to dissolve its China-based entity in late June. Stakeholders in the Chinese firm that was founded to operate cryptocurrency exchange Huobi have resolved to dissolve the entity, according to publicly available records.The firm, Beijing Huobi Tianxia Network Technology Ltd., was established in late 2013 and is 70.52% owned by Li Lin, the founder and CEO of Huobi Group. It has 10 million yuan ($1 million) in registered capital and a total of five subsidiaries. Having passed the resolution in favor of dissolution....
Does someone know something the public doesn't? Crypto-Twitter has been abuzz with speculation about a large amount of USDT flowing into the Huobi crypto exchange. Significant amounts of Bitcoin (BTC) also appear to have exited the platform during the same period. The Singapore-based entity recently issued a statement claiming all is well."We have noticed that recent events have sparked inquiries and speculation from some users," Huobi said earlier today, adding: "Huobi reiterates: 'We are currently operating normally, user assets are safe, and trading, deposits and withdrawals are....
Leading crypto exchange Huobi has revealed data from their latest Huobi Token burned. The platform confirmed that 5.826 million HT or around $138.579 million were bought back from the market and used to continue the exchange’s token burning scheme. This Ethereum based token has a limited supply of 500 million and it’s leverage for users […]
The leading cryptocurrency derivatives exchange and trading platform, Huobi is all set to make the beginning of 2021 a memorable one for its loyal userbase. Thanking the community for its support, Huobi has announced the “Celebrate 2021 by Joining Huobi Happy New Year Activities” campaign where users can win daily rewards and more than 400 […]
Although it admitted to “significant exposure,” the crypto lender assured clients that it has “the necessary liquidity to explore all options.” Crypto lender BlockFi issued an official notice to its clients on Nov. 14 denying rumors that the majority of its assets were on FTX prior to the exchange’s collapse. According to an update shared by BlockFi, although a majority of its assets were not on FTX, it still has “significant exposure to FTX and associated corporate entities that encompasses obligations owed to us by Alameda, assets held at FTX.com, and undrawn amounts from our credit line....