Major cryptocurrency exchange and wallet provider Huobi has partnered with decentralized crypto lending platform Cred to enable users to earn interest on their holdings. An announcement on April 1 revealed that Cred’s lending and borrowing services will be fully integrated into the Huobi Wallet, which supports over 1,000 crypto assets, including 8 stablecoins, for users across 200 countries and regions. The two firms did not provide a comprehensive list of supported crypto assets, but noted that Bitcoin (BTC), Ether (ETH) and stablecoins such as Universal Dollar (UPUSD) would be part of the new offering. Monthly interest on pledged assets As …

A cloud-based crypto trading software provider has announced it is launching a manual trading terminal — enabling users to place orders on its interface as if they were using their usual exchange. TradeSanta says its latest product launch is particularly useful for crypto users who use multiple exchanges and rely on automated trading bots regularly. It is hoped that this feature will cut a step in the process and enable positions to be entered into more quickly, as traders will no longer have to visit their chosen exchange first. According to the company, this option ties in nicely with other …

The coronavirus pandemic is the “black swan of 2020”, leading financial markets into a level of decline not seen since the 2008 recession. However, blockchain may still have a chance to flourish during these times of crisis. Financial crisis presents an opportunity for blockchain developers On March 19, Yu Jianing, Huobi University Principal gave a live broadcast titled "Global Financial Storm Siren, How to Use the New Thinking of Blockchain to Turn Crisis into Opportunity," according to Chinese blockchain media outlets. He commented that: “Without the financial crisis of 2008, there would be no birth of bitcoin and again without …

Huobi, the fourth-largest cryptocurrency exchange by daily trading volume to date, saw significant progress in its crypto mining business in 2019. Huobi Pool, a cryptocurrency mining arm of Huobi, says its operating revenues surged 547% in 2019, reaching $320 million year-over-year from $53 million in 2018. PoS staking continues to be the Huobi Pool’s most profitable business Originally launched in March 2018, Huobi Pool released its first annual financial report on March 19, announcing the news for Huobi Group’s digital assets mining business and trading pool for the fiscal year ending December 31, 2019. Alongside major growth in operating revenue, …

Crypto exchanges have become the most powerful stakeholders in the crypto ecosystem. Currently, just 12 crypto exchanges hold around 2.5 million Bitcoin (BTC) in their wallets, worth around $15 billion. That’s 13.8% of all Bitcoin mined to date — or, 16%–17% of all Bitcoin in circulation, considering lost Bitcoin (as of March 19). Exchanges are also some of the largest holders of altcoins, which recently led to a controversy when some of the biggest crypto exchanges used large stockpiles of Steem tokens to take over Steemit. Just like Steem, Tron’s consensus is also delegated proof-of-stake, and its biggest representative is …

Major cryptocurrency exchanges Binance and Huobi have announced support for the Steem (STEEM) community’s hard fork to create the new Hive network. On March 18, Binance and Huobi published announcements revealing their support for the Steem hard fork that is scheduled for March 20. The decisions appear to quash allegations from earlier in the month that the exchanges were coordinating with Justin Sun in his apparent attempted takeover of the Steem network. Binance and Huobi support Hive hard fork Both exchanges will take snapshots of STEEM account balances at 2 PM UTC, and both exchanges will suspend STEEM deposits and …

Huobi’s derivatives trading platform, Huobi DM, has announced a new ‘partial liquidation’ feature that aims to limit trading losses. “We introduced the partial liquidation mechanism on March 5th as part of a system upgrade we rolled out that increased Huobi DM’s throughput, response speed, and stability,” a representative from Huobi told Cointelegraph, confirming the updates are already live. The announcement combines the partial liquidation mechanism, in conjunction with a circuit breaker for decreased risk. Sudden market swings can immediately liquidate highly leveraged positions and cause extensive user losses, as seen during the last week’s Bitcoin price crash. The platform’s new …

Over the last few days, the centralization versus decentralization row has erupted in earnest. In case you missed it, the activities of Tron founder Justin Sun following his takeover of blogging site Steemit have been pivotal to the controversies. Let’s briefly recap. Earlier in February, it emerged that Sun was further expanding his crypto-empire with the acquisition of Steemit, which runs on the Steem blockchain. Steem was developed by Daniel Larimer, who also introduced the delegated proof-of-stake governance model, or dPoS, to the blockchain sphere. Larimer later went on to build EOS, which also runs on dPoS. Related: Steemit Managing …

Cryptocurrency exchange Binance has officially apologized to the Steem community following its involvement in a major centralization scandal involving Tron founder Justin Sun. In its letter posted on March 10, Binance affirmed that it “stays neutral and has no interest in on-chain governance beyond the Binance ecosystem.” Binance also provided records of its powering down of all the 31,730,000 STEEM tokens it had staked in support of Justin Tron’s allegedly “hostile takeover” of the blockchain. Steem vs. Tron controversy: the backstory Binance’s letter comes following a stand-off earlier this month between members of the Steem community and Tron CEO Justin …

The scandal surrounding the Steem blockchain continues to unfold. After juggernaut exchanges Binance, Huobi and Poloniex were heavily criticized by community members for allegedly mobilizing customer deposits to take over the network, two of those firms announced they were backing off. Meanwhile, Tron CEO Justin Sun, who has recently acquired Steemit — the startup behind the major blockchain-based blogging and social networking platform — has referred to the disgruntled voters who tried to reclaim control as “hackers” who have been “successfully defeated.” However, as the latest developments show, Sun intends to withdraw all of the orchestrated votes “ASAP,” while the …

The advance of coronavirus in the region hasn’t precluded the launch of Huobi Thailand, which allows for a fiat gateway to BTC, ETH, HT, and USDT from the start, and plans to expand the offering in the near future according to the company’s press release Cointelegraph received today, March 5. Licensing Last year, Huobi was awarded a “Digital Asset License” by Thailand’s Ministry of Finance, and more recently it was cleared by the country’s Securities and Exchange Commission. According to Ciara Sun, VP of Global Business at Huobi Group, Huobi’s goal is “to help create an equitable world where wealth …

Four former witnesses have been voted back onto the council of 20 nodes that underpin the Steem blockchain. Their reinstitution follows the withdrawal of votes from major exchanges Binance and Huobi in support of what has been described in an attempted takeover of the network. In a statement issued by Huobi on March 3, the exchange admitted that it had mobilized its customers’ STEEM holdings to vote in favor of ousting the blockchain’s previous validators in favor of Tron founder and recent purchaser of Steemit Inc, Justin Sun: “From time to time, Huobi stakes user holdings to help block malicious …