Huobi May Open Office in Brazil

As reported, exchange is marketing its platform in the country, while attempting to hire regional staff
31 May 2018   1075

The third largest exchange Huobi plans to open an office in Brazil's São Paulo. This is reported by CCN with reference to the local media Portal do Bitcoin.

According to a local source, the management of the Huobi exchange is looking for personnel for the new unit. Also, the publication reports that representatives of Huobi were seen during the talks "with well-known personalities of the Brazilian market." In addition, as part of the work on the forthcoming expansion of activities, the trading platform already uses the workspace from the famous WeWork coworking network.

Among other things, the Singapore-based exchange posted on the LinkedIn an application stating that Huobi needed a senior compliance officer who would oversee the company's operations, detect violations and illegal activities. Another announcement says that Huobi is looking for a candidate for the position of digital marketing manager.

Company has already started expanding to Canada as it sees it “emerging as a leading blockchain nation."

Huobi to Reply on Faking Trading Volumes Accusations

Huobi did not find any evidence of systematic abuse, CEO Huobi Global said
31 May 2019   295

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.