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Huobi Global Finally Acquired by About Capital Management



Huobi Cryptocurrency exchange

On 8th October 2022, Huobi Global is acquired by About Capital Management (HK) Co., Limited. Today the controlling shareholder of Huobi Global reaches an agreement with About Capital Management to sell its entire shareholding in Huobi Global.

About Capital Management is a Hong Kong based asset management company which was founded by Chen Yihua in 2013.

According to the official statement, “The transaction only involves the change of controlling shareholder and has no impact on Huobi’s core operation and business management teams.”

Huobi was once the 2nd largest cryptocurrency exchange after Binance and the largest Chinese cryptocurrency exchange. It was founded in 2013 and received investment from Sequoia Capital and ZhenFu.

Currently, Huobi has more than 20 million users and also holds compliance licenses in the United States, Hong Kong, South Korea, Japan and other places.

According to About Capital, “post transaction Huobi Global will embrace a series of new international brand promotion and business expansion initiatives, including a global strategic advisory board led by leading industry figures, the injection of sufficient capital in margin and risk provision fund, as well as measures to further enhance competitiveness.”

On October 5th, a large amount of Bitcoins funds were transferred between Huobi wallet addresses in 4 transactions.

Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.

Ashish is a cryptocurrency journalist who has been passionately involved in the bitcoin space since 2016. His interests lie in bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.