n November 22, 2022, His Excellency Justin Sun, TRON Founder, Huobi’s global advisory board member, and Ambassador Extraordinary and Plenipotentiary, Permanent Representative of Grenada to the WTO, attended the Huobi’s refreshed branding launch event held in Singapore.
Key takeaways: DEAPCoin has been listed on the Huobi Global cryptocurrency exchange DeapCoin is a token used in PlayMining, a GameFi ecosystem developed by Digital Entertainment Asset Huobi Global is one of the largest cryptocurrency exchanges in the world DEAPCoin (DEP) is now available for trading on Huobi Global The Huobi Global cryptocurrency exchange has…
The Huobi Global cryptocurrency exchange has launched Ivy Blocks, an ecosystem investment arm focused on DeFi and Web3 projects. According to the press release, Ivy Blocks will invest in “promising blockchain projects” with the intent of identifying growth opportunities. The unit has launched with more than $1 billion in crypto assets under management (AUM).
More than two years after its withdrawal, Chinese cryptocurrency exchange Huobi is now preparing to re-enter the US market with a focus on asset management rather than crypto exchange offering.
After a series of regulatory clampdowns that date back all the way back to 2013, China has decided to issue a blanket ban on all cryptocurrency activity in the country on September 24. As expected, native tokens of crypto exchanges that were offering their services to Chinese users, such as OKB and Huobi token, have been particularly hard hit. However, Binance Coin remained relatively unaffected by the news.
The cryptocurrency market has been thoroughly shaken up by Friday’s news of China banning crypto services like trading and new token issuance. In the 48 hours following the regulatory crackdown, the total market cap had dropped by $150 billion, pushing the value of Bitcoin to $41,000 and Ethereum to $2,750. Since then, bullish momentum has allowed most tokens to recover some of their lost value. Over the course of the last 24 hours, 81 out of the top 100 digital currencies have managed to post positive results.
Huobi Global revealed its plans for a gradual withdrawal from the Chinese market. One of the largest cryptocurrency exchanges announced that new account registrations were suspended in order “to comply with local laws and regulations.” The policy change was put into effect almost immediately after the news of China banning crypto transactions became known.