Huobi announced its most important Chinese company closure is just FUD

Not long ago, journalist Wu Blockchain reported that Huobi applied for the cancellation of its most important Chinese company on July 22. This news reminds people that OKCoin, a related entity of China’s leading crypto exchange OKEx, has announced the closure and liquidation of its main company at the end of June.

Amid China’s tightening crackdown on cryptocurrency business, don’t be scare with FUD about Huobi

“China’s National Enterprise Information Disclosure System shows that China’s largest exchange, Huobi, applied for the cancellation of its most important Chinese company on July 22. OKEx also canceled its Chinese company in June. They hope to move overseas, especially to Singapore,” Wu Blockchain tweeted.

huobi-announced-its-most-important-chinese-company-closure-is-just-fud

Source: GXST.GOV 

Not long ago, OKCoin, a related entity of China’s leading crypto exchange OKEx, has announced the closure and liquidation of its main company. OKEx founder Mingxing “Star” Xu has also filed for cancellation of the OKCoin business registration in Beijing.

Specifically, Xu applied to the company registry for the cancellation of the business registration of Beijing Lekuda Network Technology Co. Ltd, OKCoin’s main company in Beijing. However, he stated that the move is a normal change for the relocation of the group’s subsidiaries.

OKCoin’s Beijing company liquidation came after BTCChina, China’s longest-running cryptocurrency exchange announced it is leaving the crypto trading business in response to the country’s latest Bitcoin crackdown.

Because of these things, when there is news about Huobi, many users are confused. Some even mistakenly thought that Huobi closed its operations in China. Some claim that they are just relocating operations.

After receiving this news, Huobi side responded to clarify this information:

“This is the entity that Huobi registered in Beijing in the early years. This institution is not the operating entity of Huobi Global. The entity applied for cancellation because it did not carry out any business and did not need to continue to exist.”

huobi-announced-its-most-important-chinese-company-closure-is-just-fud

Although it has been corrected, many people believe that this information is FUD and should not be released.

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