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Huobi and Poloniex Merger Will Not Happen!


Huobi and Poloniex merger will not happen! Cryptocurrency exchange Huobi dismissed the suggestion that it could integrate trades with the Poloniex platform as “completely false”. Huobi is one of the leading cryptocurrency platforms in Asia, which was established in China in 2013. Colin Wu had previously said that the two exchanges would merge together, and Justin Sun added fuel to the fire by confirming the news in the next report of Block.

However, the platform has provided: “Huobi and Poloniex are now working independently.”

In an emailed statement, Huobi said: “We would like to speak for the record that rumors that Huobi will soon merge with Poloniex are false.”

Justin Sun is involved in Huobi and Poloniex

Justin Sun, the creator of the Tron network, is involved in both businesses in some form. In 2019, he was a member of a group of investors who bought Poloniex, and he currently works as a consultant for Huobi.

According to Sun, Huobi plans to move to the Caribbean soon, and Dominica, Panama and the Bahamas are the favorites. In Novemer 22, Sun shares his thoughts with the Wall Street Journal, saying that his team is looking at the possibility of buying assets from the current unpaid FTX exchange. A prominent cryptocurrency advocate said:

“We have room for any type of agreement. I think all options [are] on the table. Now we are reviewing the assets one by one, but as I know it will be a long process since they are already in this type of financial system.

Recently, a leading cryptocurrency exchange made an announcement outlining its launch plan. As part of the implementation process, the company will now be known as “Huobi” rather than “Huobi Global”.

The Seychelles-based cryptocurrency exchange announced in October that it will sell a large amount to About Capital Management.

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