Huobi to Re-Enter US Market After 2-Year Exodus PlatoBlockchain Data Intelligence. Vertical Search. Ai.

Huobi to Re-Enter US Market After 2-Year Exodus

Time Stamp: February 22, 2022 8:33 AM

Huobi-to-Re-Enter-US-Market-After-2-Year-Exodus

  • Chinese cryptocurrency exchange Huobi plans to enter the US market.
  • Huobi had stopped operations in the US two years ago.
  • In its re-entry, the exchange will focus on asset management.

After its exodus two years ago, Seychelles-based exchange Huobi announced its plans to re-enter the US market. Specifically, Huobi stopped operations after the Chinese state’s crackdown on cryptocurrencies. They also cited management issues for the closure.

“In 2018, we tried to enter the U.S. market but we quickly withdrew ourselves because we didn’t have a strong commitment to the market at that time and we didn’t have a good management team in the US,” said Huobi Co-Founder Du Jun in an interview with CNBC.

Du further stated that the cryptocurrency exchange was ready to get back into the competitive US market after redefining its strategy. He also believes that asset management is a bigger business than exchange. …

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