Chinese Police to Take Legal Action Against EtherDelta

According to the Primite managing partner, exchange is involved in exit scam
07 August 2019   607

Chinese police, according to some reports, are investigating the activities of the decentralized exchange EtherDelta.

This was reported by Primite managing partner Dowey Wan.

She added that platform founder Zachary Coburn sold EtherDelta to a group of Chinese investors. The latter issued an EDT token, shortly after which an exit scam of the trading platform followed. Then angry investors appeared to complain to law enforcement.

She also stressed that the Chinese police are merciless to fraudsters whose actions affect the interests of a large number of retail investors.

Last November, the US Securities and Exchange Commission (SEC) indicted EtherDelta founder Zachary Coburn for managing an unregistered stock exchange.

The regulator’s statement said that the decentralized EtherDelta exchange acted as a secondary market for trading ERC-20 tokens, which the SEC considers to be “digital securities”.

Huobi to Launch Brokerage Platform

The service, aimed at institutional investors, is  available to investors in almost all regions where Huobi is present, except China
22 January 2020   138

Huobi cryptocurrency exchange opens a brokerage platform focused on the needs of institutional investors.

The announcement of the Huobi Brokerage platform took place this Tuesday at the World Economic Forum in Davos. The service is already available to investors in almost all regions where Huobi is present, with the exception of China.

The brokerage platform is the first product of the Global Institutional Business (GIB) division, which will focus on serving institutional clients. According to the publication, from the third quarter of 2019, Huobi recorded an increase in the institutional client base by 400% - it was possible to attract 1,700 investors.

GIB currently has offices in London, Singapore, and Hong Kong and will be a top priority for Huobi in 2020 as it continues to expand globally.

 

Huobi

 

Like the American brokerage service Tagomi, Huobi Brokerage provides the ability to execute applications at the best prices by forwarding them to several trading platforms, including third-party exchanges and over-the-counter services. Huobi is known to have over-the-counter partners in Chicago Jump Trading and Hong Kong-based Alameda Research.

In addition, the platform provides services for block trading, individual financing and other solutions for traders interested in concluding large transactions. Bitcoin, USDT, HUSD, PAX, TUSD and USDC are available for trading blocks. By the end of the first quarter, ETH, EOS, BCH, LTC and XRP will be added to them.

2019 brought the first wave of institutional interest but 2020 is when we expect to see the industry mature with growing demand. As we enter the next phase of crypto, Huobi staking an active role in setting new standards for institutional and retail clients alike.

Ciara Sun

Huobi Group vice president