Huobi to leave Bitcoin industry

One of the ex-world largest cryptocurrency exchange reported about the withdrawal from the industry
31 October 2017   441

The Chinese currency exchange Huobi, which some time ago had a rather significant part of the global trading volume of crypto currency, announced the withdrawal from the industry.

The founder of the exchange, Leon Lee, said that Huobi plans to reformat as a "provider of information and research services in the field of blockchain." The main direction of the company's activities will be directed to the Chinese market.

I believe that this is not only a milestone for Huobi, but also a watershed in the history of Chinese digital assets and even a memorable day in the development of global digital assets. In the past, Huobi brand in China, has been a significant symbol in the industry of digital assets. In the future. Huobi team will continue to actively and globally participate in the development of the industry.

Leon Lee
Founder, Huobi

Thus, Tuesday, October 31, will be the last day of Huobi's presence in the Chinese market of crypto-currency trading. 

Rumors that the international unit of the exchange called Huobi Pro may soon launch p2p-trading at this stage are not confirmed.

Huobi and 500 Startups to Incubate Blockchain Startups

New enterprise will be called Batch 23 and will support startups in various ways
21 February 2018   48

Startups accelerator from the Silicon Valley 500 Startups announced the conclusion of an agreement with the division of the Huobi exchange, pursuing the same goals, Huobi Labs. This is reported by Coindesk.

Both organizations will support start-ups in various aspects, including helping them in drafting business plans, white paper, marketing strategies, engaging the community and attracting funding.

Huobi Labs will provide its links in the blockchain space, which will help 500 Startups program participants to work more actively with this technology. The group of startups included in the joint program Huobi Labs and 500 Startups, will be called Batch 23.

Our teams will learn so much especially around the ins and outs of how a digital exchange works.

Edith Yeung

Partner, 500 Startups

The founder of Huobi Labs, Junfei Ren, said that his company will work with the participants of 500 Startups and Batch 23 to "provide maximum assistance and support to all new projects".

500 Startups is an early investor in several crypto-currency projects. However, the company refuses to participate in the ICO, citing financial and legal risks.