Cryptocurrency exchange Binance has confirmed it is “not planning any layoffs” and is trying to fill another 500 roles by the end of June, according to a Binance spokesperson. The comments came despite a huge spike in crypto layoffs in January — the majority of whom were from crypto exchanges. In a statement, the Binance representative said: “As of today, we are actively hiring for more than 500 roles with the goal of filling them by the end of H1 [...] We are not planning any layoffs.” The spokesperson was responding to a request for clarification from Cointelegraph on Mar. …

Cryptocurrency exchange Huobi Global is seeking a license in Hong Kong, as the Chinese special administrative region considers new licensing and regulatory moves that would allow them to serve retail customers. The new framework, which requires crypto exchanges to register with the Hong Kong Securities and Futures Commission (SFC), would allow the exchange to expand its services to the city. Huobi also plans to open a new exchange named Huobi Hong Kong that would concentrate on institutional and high-net-worth individuals, according to a tweet thread by Justin Sun. The SFC has recently opened the new Hong Kong licensing proposals for …

Cryptocurrency exchanges Binance and Huobi have again frozen accounts linked to the $100 million Harmony Horizon bridge attack on Jun. 24, 2022. Around $1.4 million worth of crypto frozen by the trading platforms came from accounts linked to the notorious Lazarus Group operating out of North Korea. The investigation was carried out by blockchain analytics firm Elliptic, according to a report shared by the firm on Feb. 14. However, the firm didn’t state what coins or tokens were frozen. Exchanges @binance and @HuobiGlobal today froze accounts containing $1.4 million stolen by North Korea’s Lazarus Group. This was made possible thanks …

Cryptocurrency exchange Huobi has announced that it will discontinue its Huobi Cloud Wallet platform in May 2023 citing ‘strategic and product adjustments’. As per an announcement on Huobi’s support page, maintenance and upgrades of the multi-token wallet service will officially stop on Feb. 13. Users that are still using the Cloud Wallet are being encouraged to transfer cryptocurrency and nonfungible tokens (NFTs) to their main Huobi accounts or other wallet addresses. Huobi Cloud Wallet’s withdrawal and transfer functions will work for the next three months, while users are cautioned not to transfer digital assets to their Cloud Wallet. Huobi Cloud …

In January, the brother of a former Coinbase product manager was sentenced to 10 months in prison for wire fraud conspiracy in what prosecutors called the first case of insider trading involving cryptocurrencies. In September 2022, Nikhil Wahi entered a guilty plea for executing trades based on private data obtained from his brother, Ishan Wahi, a former product manager for Coinbase. Most countries have laws against insider trading, which carry stiff penalties like jail time and heavy fines. The recent insider trading investigation against crypto exchanges by the United States Securities and Exchange Commission indicates that regulatory bodies are prepared …

Security teams at crypto exchanges Binance and Huobi worked together to freeze and recover 121 Bitcoin (BTC) from hackers behind the Harmony bridge exploit. In a tweet, Binance CEO Changpeng Zhao announced that the hackers have tried to launder their funds through the Huobi exchange. After this was detected by Binance, they contacted and assisted Huobi to freeze and recover the digital assets deposited by the hackers. We detected Harmony One hacker fund movement. They previously tried to launder through Binance and we froze his accounts. This time he used Huobi. We assisted Huobi team to freeze his accounts. Together, …

As the crypto space continues to expand into the mainstream, bridging the gap between digital currencies and fiat currency is a priority for many legacy financial institutions. Cryptocurrency exchange Huobi announced its partnership with Solaris, a European financial services provider, to launch a crypto-to-fiat debit card. The program, which Visa has approved, allows Huobi users to use their digital assets at the point of sale globally. Users residing in the European Economic Area (EEA) will have access to the card beginning in the second quarter of 2023. The EEA comprises all 27 European Union member states, as well as Iceland, …

According to a Jan. 11 announcement, cryptocurrency exchange Huobi said that it would delist 33 tokens consisting of tickers ABT, ATP, APN, AST,DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, STC, TALK, VALUE, WHALE, WILD and YAM. Effective Jan. 16, the aforementioned tokens will cease trading and be delisted permanently. In explaining the decision, Huobi wrote that most of the tokens violated Section 17, Rule 1, and Section 17, Rule 2, of the Huobi Token Management Rules, which states: "Huobi reserves the right, based on …

Following the report about Huobi Korea’s planned buyout of its shares from Huobi Global, the latter revealed that the deal has already been made, and the two platforms have been operating completely separately since the Fall of 2022. In the press release from Jan. 11, Huobi Global, which rebranded to Huobi in Nov. 2022, confirmed that it has already broken all the ties with Huobi Korea, its former subsidiary in South Korea. According to the statement, in Oct. 2022. the About Capital fund became the largest shareholder and actual controller of Huobi Global, but the deal didn’t include Huobi Korea's …

Local media reported Jan. 9 that cryptocurrency exchange Huobi Korea is preparing to purchase its shares from Huobi Global and change its name. About 72% of shares in Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean chairman Cho Kook-bong would take over Li’s share in the Korean company. Cho is also the owner of a major crypto mining operation in the country, according to local outlet News1. Huobi has experienced a number of issues in recent days. It reportedly planned laid off 20% of its workforce Jan. 6, after a $6 million outflow that week.

Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm. “The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan. 6. The representative emphasized that the allegations on Huobi firing as many as 40% employees is a rumor. Huobi has established a new organizational structure after the new shareholders have taken over, the spokesperson said, adding that the firm has adjusted the business departments. “With the current state of …

Speculation on Twitter that crypto exchange Huobi has laid off staff and shuttered internal communications have prompted the community to advise users to withdraw funds, despite an advisor to the exchange denying the rumors. In a Jan. 5 tweet, Huobi advisor Justin Sun addressed rumors of purported insolvency saying the business development of the exchange was “good” and the “security of users' assets will always be fully protected.” Sun also seemingly brushed off speculation around disgruntled staff saying Huobi will “fully respect the legal demands of local employees.” Earlier, on Jan. 3, crypto journalist Colin Wu reported Sun changed Huobi …