- Huobi Global wants to expand into a global exchange.
- This was disclosed by Justin Sun, the alleged owner of the firm.
- Huobi Global also released an asset transparency report earlier.
The need for HuobiGlobal to expand in order to become a global cryptocurrency exchange was brought to light in a recent update. This was disclosed by the company’s adviser, Justin Sun, who encourages and endorses the implementation of any and all ideas.
This comes only about a month after it was rumored that Justin Sun had bought Huobi Global, a market leader in the cryptocurrency field. According to Blockchain, a Chinese crypto-oriented Twitter service, numerous executives at Huobi, including the company’s CEO and PR head, voluntarily resigned from their positions at the company.
Just one month after taking on the role of adviser, Justin Sun gained complete control of the Huobi Global organization.
Huobi Global also released an asset transparency report, which is a big development. It said that the entire estimated worth of its reserves was $3.5 billion at the time of the announcement.
The exchange has given its customers assurance that their assets are secure, despite the fact that the cryptocurrency market has been crashing as a direct result of the FTX scandal.
The exchange also noted in its report that it performed a Merkle Tree Proof of Reserves audit when the exchange’s founder sold his controller stake to About Capital. Huobi will publish a third-party Merkle Tree Proof of Reserves audit to boost user confidence even further.
Read Also :
Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
Godfrey Mwirigi is an enthusiastic crypto writer with an interest in Bitcoin, blockchain, and technical analysis. With a focus on daily market analysis, his research helps traders and investors alike. His particular interest in digital wallets and blockchain aids his audience in their day-to-day endeavors.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- Platoblockchain. Web3 Metaverse Intelligence. Knowledge Amplified. Access Here.
- Source: https://cryptonewsland.com/huobi-global-wants-to-expand-into-a-global-exchange/
