Huobi exchange announced it will accept a deal to be purchased by Hong Kong-based firm About Capital Management.
Asian crypto exchange Huobi announced it will sell a majority stake to Hong Kong-based About Capital Management.
Financial terms of the deal were not disclosed, but Huobi revealed a plan to expand its business internationally. Huobi will sell a majority stake to Hong Kong-based investment company About Capital Management, HuobiAs the change in ownership occurs, there will be no impact on the exchange’s core operations, and Huobi said it will focus on international business expansion. This includes the creation of a global strategic advisory board led by"leading industry figures," as well as the formation and capital infusion of a risk provision fund, the Asia-based exchange said.
© 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.Jeremy Nation is a Senior Reporter at The Block covering the greater blockchain ecosystem. Prior to joining The Block, Jeremy worked as a product content specialist at Bullish and Block.one. He also served as a reporter for ETHNews. Follow him on Twitter @ETH_Nation.
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