Huobi Denies Rumors a Senior Executive Was Arrested

A spokesperson from Huobi Global says rumours of layoffs are "untrue" and the "senior management team is performing their duties as per normal." Huobi Global says it has no plans to conduct “large-scale layoffs” and has refuted reports that two of its top executives have resigned amid a takeover of the Seychelles-based crypto exchange.Reports that the company’s chief executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have resigned appeared to have originated from an Oct. 29 Twitter post from Chinese crypto blogger Colin Wu, citing “people familiar” with Huobi. The....

Are a raft of recent FUD events coincidental, or are global authorities targeting unregulated crypto exchanges? The mood of fear, uncertainty and doubt, otherwise known as FUD, that has gripped some of the largest cryptocurrency exchanges since October heightened last week — and it had nothing to do with the United States presidential election.“Weird Binance fud Friday and weird huobi arrest fud today,” tweeted MyCrypto CEO Taylor Monahan, referring to an Oct. 29 Forbes report that Binance had set up its U.S. unit, Binance.US, as a regulatory decoy and referencing separate rumors that....

Last week, rumors surfaced that the United States Securities Exchange Commission (SEC) had sent inquiry letters to various companies who have released securities on crypto 2.0 platforms. Some investors became anxious that the SEC was targeting the platforms themselves. This uncertainty led to a brief drop in the price of Counterparty's native currency, XCP. However, Counterparty responded that the SEC has not contacted them and that since their platform is open-source, they are not responsible for how people use it. Since Counterparty's clarification, the XCP price has increased more than....

There's a lot that's unclear in China right now. Yesterday, we learned that several exchanges in the country have stopped some services. Popular Chinese Bitcoin Exchange Huobi announced on its website that despite vicious rumors circulating that the People's Bank of China will be forcing banks and third-party payment processors to sever ties with bitcoin exchanges, they haven't heard any such news from the processors they work with. One of the processors (which has remained unnamed), however, did contact Huobi to discuss what CoinDesk says is "the potential risk of continuing [a]....

“We are not planning to acquire Huobi,” said Sam Bankman-Fried, who manages assets at Alameda Research and leads crypto exchange FTX. Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF. In a Monday tweet, SBF explicitly denied a Bloomberg report that claimed FTX was planning to purchase crypto exchange Huobi. Cointelegraph reported on Aug. 12 that Huobi co-founder Leon Li was considering selling his majority stake, valued at more than $1 billion, in the company. “We are not planning to acquire Huobi,” said SBF.Just to be....