Huobi

Largely unnoticed until Monday, stakeholder Justin Sun confirmed a $8 million hack in a tweet

Huobi managed to stave off market concerns in its business, reflected in USDT stablecoin activity, rising to the second-highest in August spot trading activity

Exchange spokesperson refuted claims that any team members have been detained by Chinese authorities

Hong Kong is “rich in tycoons and well-capitalized family offices that could fund crypto firms moving into the city,” Matrixport’s head of research told Blockworks

The notorious cybercrime group used Ethereum-based Railgun to anonymize their movements, but exchanges froze some assets

The exchange has lost 18% of its market share volume since 2020, per new research

Ex-head of State Street Digital lands CEO role at blockchain startup, while Zodia Custody and BitDAO add execs

The native Huobi stablecoin has now totally depegged from the US dollar, with the crypto exchange promising to swap tokens with Tether

Huobi founder Leon Li will no longer be part of the business’ operations after the deal closes, with Justin Sun taking on an advisory role

Sam Bankman-Fried, Justin Sun contend for founder’s stake in the cryptocurrency exchange

Lucas He and David Gan, both Huobi alumni, will lead the new fund as general partner and president, respectively

Major cryptocurrency exchange Huobi is suing a former senior manager for allegedly trading against a company account to earn $5 million in Tether

Thailand’s Securities and Exchange Commissioned revoked the trading platform’s license, citing failure to follow rules

Tencent, JD and Alibaba pledge to not touch virtual currencies when operating their NFT marketplaces.

The People’s Bank of China reiterated its stance in September that there’s no legal framework for crypto in China. Now Huobi is setting sail for Singapore.

China was added to the list of unlawful jurisdictions for its derivatives trading service, but its users can still access the exchange platform and spot trade, according to the updated fine print on June 26.

Hong Kong Monetary Authority as well as the territory’s Securities and Futures Commission not commenting on existence of investigation into Huobi.