Problems continue to be associated with major cryptocurrency exchange platformssteemCreated with Sketch.

in Project HOPE2 years ago

The unstable situation with cryptocurrency exchange platforms continues to generate conflicts that shake the price action of the main cryptocurrencies by market capitalization.

According to information published in the Cointelegraph portal, the situation of the controversial case regarding the purchase of Huobi Korea's shares from Huobi Global has been made public, and it has been reported that the deal has already been closed, and that the two platforms operate separately.

According to the aforementioned statement since last October 2022, About Capital fund became the largest shareholder and actual controller of Huobi Global, however, the agreement did not include the shares of Huobi Korea, which belonged to Huobi Global shareholders and were divested in the corporate structure.

It has been reported that Huobi Korea in January 2021 was the country's second largest exchange at the time of its certification by the Korea Internet and Security Agency, the Korean exchanage was boosted by concerns over the parent company's reserve test report published in December.

In this sense, the truth is that the exchange platform Huobi cut all ties with Huobi Korea, it remains to be seen whether Huobi is really financially insolvent as a result of this separation, which is detrimental to its users.

SOURCES CONSULTED

Cointelegraph Huobi clarifies Korean operations: Two separate entities aiming at same market. Link

OBSERVATION:

The cover image was designed by the author: @lupafilotaxia, incorporating image background: Koreatimes

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So now huobi and huobi korea are different. I don't know it is good or bad but this type of incidents occurs frequently in the crypto space. I hope things will be stable for maket because everyone wants positivity now.

So now huobi and huobi korea are different. I don't know it is good or bad but this type of incidents occurs frequently in the crypto space. I hope things will be stable for maket because everyone wants positivity now.

BTC is now moving up and these news will again make it drop but I hope it will not affect much.

greetings @lupafilotaxia _
Whenever this kind of actions happen with companies so big and that were solid is product of differences in the mentality of running the company, I think in the long run this separation will be good and each one will be able to exploit the new project they had in mind being of benefit for the cryptocurrency market.

thank you very much for sharing

Thank you for sharing, it's helpful

Hi @ckgflorence

Thanks to you for stopping by.

Best regards, be well.