Huobi Group to Launch Trading Service for Big Customers

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets"
15 August 2018   901

Huobi Group launched a new trading service for institutional market participants. 

The service is positioned as an "an exclusive channel for institutions to ensure safe, compliant and rapid deposit-withdrawal of high-value assets."

At the first stage, the service will be available for 100 institutional customers of Huobi. The latter will be able to perform up to 10 I / O operations on a first come, first served (FCFS) basis.

A range of new services will include the following options:

  • an exclusive channel for institutions, providing a safe, fast and legal withdrawal of funds;
  • multitasking, allowing to use in trading a lot of positions, strategies and open up to 1000 sub-accounts;
  • individual limits on the volume of transactions and borrowed funds;
  • individual customer support;
  • access to analytical data of the research department of the company, as well as investment strategies of Huobi Quant Academy.

In addition, for institutional clients, there will be regular Mitaps dedicated to the development of the industry, which will also offer participation in various investment projects.

Huobi to Reply on Faking Trading Volumes Accusations

Huobi did not find any evidence of systematic abuse, CEO Huobi Global said
31 May 2019   311

The general director of Huobi Global, Livio Weng, said that the Huobi cryptocurrency exchange has never been involved in faking trading trading volumes, as stated in the report of Bitwise Asset Management. It is reported by CoinDesk.

So, after the publication of the report, Huobi conducted an internal investigation, which resulted in no systematic problem.

We did identify a few of our market makers conducting what we suspect may have been wash trading for the sake of performance and marketing purposes. We have already communicated with these market makers and they have discontinued the strategies in question.
 

Livio Weng

CEO, Huobi Global

In the near future, the exchange will make the necessary changes in its policy, as well as take additional measures to combat the increase in trading volumes.

Late March, Bitwise told the US Securities and Exchange Commission (SEC) that 95% of trading volumes on unregulated exchanges are fake and devoid of any economic sense.

This provoked a lively discussion around the CoinMarketCap analytical resource and the correctness of the data published on it.

Later, Bitwise said that the cryptocurrency market can be considered “healthy” if it will get rid of fake data.

Only 10 Bitcoin exchanges passed the original test of the company, Binance, Bitfinex, Coinbase, Kraken, Bitstamp, bitFlyer, Gemini, itBit, Bittrex and Poloniex are among them.