1. On October 8 (UTC+8), Huobi, once the largest cryptocurrency exchange in the Chinese region with more than 20 million users, is acquired by About Capital Management's M&A Funds in Hong Kong. FTX/SBF, Justin Sun and even Binance were involved in early acquisition discussions. But due to political and security factors, Huobi Exchange ultimately chose to sell the capital in Hong Kong. Huobi founder Li Lin's reluctance to leave China, his being investigated by the police in 2020, and the unsustainable business in 2022 are the reasons why he finally chose to sell.
Top10 Asia Crypto News (Oct 3 to Oct 9)
Top10 Asia Crypto News (Oct 3 to Oct 9)
Top10 Asia Crypto News (Oct 3 to Oct 9)
1. On October 8 (UTC+8), Huobi, once the largest cryptocurrency exchange in the Chinese region with more than 20 million users, is acquired by About Capital Management's M&A Funds in Hong Kong. FTX/SBF, Justin Sun and even Binance were involved in early acquisition discussions. But due to political and security factors, Huobi Exchange ultimately chose to sell the capital in Hong Kong. Huobi founder Li Lin's reluctance to leave China, his being investigated by the police in 2020, and the unsustainable business in 2022 are the reasons why he finally chose to sell.