Huobi Exchanges ownership is shrouded in mystery, with conflicting reports about who the controlling party is.
The lack of transparency regarding Huobi‘s ownership raises concerns about the exchange’s credibility and trustworthiness, potentially driving away customers.
According to PROTOS, About Capital Management, which announced the acquisition of Huobi exchange in October 2022, said in May this year, “no longer involved with Huobi in any way.” Capital is generally considered just Justin Suns agency for acquiring Huobi.
Huobi, one of the largest cryptocurrency exchanges in the world, is shrouded in mystery when it comes to its ownership. In October 2022, Hong Kong-based investment firm, About Capital Management announced that it had acquired Huobi. However, it soon became clear that the mysterious party responsible for acquiring the exchange was none other than TRON and Poloniex founder Justin Sun. Despite persistent tweeting about the company and his appointment to the Huobi Global Advisory Board, Sun denies controlling ownership of the exchange.
According to PROTOS, About Capital Management, which announced the acquisition of Huobi in October 2022, said in May of the following year that it was “no longer involved with Huobi in any way.” The company refused to elaborate further.
Hong Kong corporate documents for numerous Huobi and Justin Sun-related entities, along with information about ACM, were obtained by Protos. The documents do not point to who or what entity currently holds a controlling interest in the company. In February, a new director was appointed to HBIT, representing Huobi under its FinCEN registration.
The individual in question, Wang Shuchi, appears to be the director of numerous shell companies and the owner of Huobi Digital Limited. Additionally, Li Qi was appointed as a director of “New Huo Technology Holdings Limited” in March of the same year.
The need for more transparency regarding Huobi‘s ownership raises concerns about the exchange’s credibility and trustworthiness. Customers may be hesitant to trade on an exchange with unknown ownership and may choose to take their business elsewhere. The current situation also highlights the importance of transparency in the cryptocurrency industry and the need for regulation to protect investors and consumers.
As for writing, it remains to be seen who owns Huobi and what the future holds for the exchange. Nevertheless, the situation highlights the need for transparency and regulation in the cryptocurrency industry to protect investors and consumers.