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

by Mike Robinson

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Huobi Will Re-Enter US Market after 2-Year Exodus
  • Huobi is a Chinese cryptocurrency exchange that plans to expand into the US.
  • Huobi’s operations in America had been stopped two years prior.
  • The exchange’s re-entry will be centered on asset management.

Two years after it was expelled, the Seychelles’-based exchange Huobi declared its intention to re-enter America. Specifically, Huobi stopped operations after the Chinese state’s crackdown on cryptocurrencies. Management issues were also mentioned as reasons for Huobi’s 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 also stated that after having reformulated its strategy, the cryptocurrency exchange is ready to get into the US market. He believes asset management is more important than trading. …

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