Huobi is a cryptocurrency exchange situated in Seychelles The firm, which began in China, currently has offices in Hong Kong, South Korea, Japan, and the United States today turn 8 years old.
Dai Zhikang and Zhen Fund angel investment inin Huobi in November of 2013. Sequoia Venture Capital invested $10 million in Huobi in 2014. Quick Wallet, a Bitcoin wallet provider, was bought by Huobi in August 2014.
- Huobi halted Bitcoin withdrawals when the Chinese government banned Bitcoin exchanges in 2017.
- Huobi transacted over $1 billion in deals each day as of March 2018. Huobi is listed on the Hong Kong Stock Exchange in August 2018 after acquiring a 74 percent share in Hong Kong electronics company Plantronics Holdings in a reverse takeover.
- Huobi Labuan, a licensed crypto exchange in Malaysia, will open in November 2020.
- Huobi declared in September 2021 that it will no longer serve consumers in mainland China owing to new laws.
In the bear market of May 2021, severe decline was witnessed in all crypto coins except Huobi exchange token.