Huobi Has Closed One Of Its Headquarters in China

Huobi has closed one of its headquarters in China. Huobi has decided to close one of its institutions in Beijing, which has not been operating for a while.

Huobi, one of the largest cryptocurrency exchange operators, announced its decision to close one of its institutions in Beijing that has not been operating for a while. While it was informed that the termination procedures will be completed within 45 days, it was emphasized that there was no problem in Huobi's website and application. According to the information sent to the Chinese national institutions system, the company closed the Beijing-based company called "Beijing Huobi Tianxia Network Technology" as of July 22 and the termination procedures will be completed within 45 days. According to the information provided by a spokesperson from Huobi to CoinDesk, this company was already established in the early years of Huobi and is currently unrelated to the operations of the exchange. It is also known that Leon Li, the CEO of Huobi, owns 70.52% of this company. Li also stands in the position of the company's investors who can claim their rights before the termination proceedings are completed. As is known, social media accounts of Binance and OKEx exchanges, as well as Huobi, were closed in China. After the last operation to cryptocurrency miners in China, Huobi also closed the option of leveraged transactions to its Chinese customers.