About Capital Now Controls Majority Shares In Huobi Global 

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Blockchain
About Capital Now Controls Majority Shares In Huobi Global 

In a blog post, Huobi Global, a Chinese giant exchange, revealed that the largest shareholder in the company has sold its entire shares to About Capital’s buyout vehicle. This means that About Capital now holds the majority of shares in the organization.

Recent Buyout Will Not Affect Huobi’s Operations

Meanwhile, the blog post noted that the buyout only involves a change in controlling shareholder. Therefore, it does not affect the exchange’s main operations. Also, it does not impact the company’s management teams.

As stated by About Capital, once the transaction is complete, Huobi Global will gear towards a new set of business expansion projects. Already, Huobi Global is one of the world’s leading cryptocurrency financial services group. Headquartered in Singapore, Huobi has offices in Hong Kong, Korea, Japan, and the United States.

The group’s mission is to make it easy and convenient for users to trade digital currencies. Huobi Global provides a safe, secure, and compliant platform for users to buy, sell, and store digital assets. The group is committed to providing users with a professional, convenient, and secure digital currency trading experience.

Additionally, the organization will begin a global brand promotion campaign. About Capital intends to set up an international strategic advisory board headed by leading figures in the industry.

Further, the buyout company will release huge capital in the exchange’s risk and margin provision fund. All these efforts are geared towards making Huobi Global among the top exchanges.

Consequently, Huobi Global will be in a better position to offer first-class and top-notch investment and trading services for investors and users.

Meanwhile, About Capital, headquartered in Hong Kong, is a fund management firm created in 2008. The firm is an investment firm that focuses on identifying long-term investment possibilities using a specific scenario technique. 

Since the organization’s founding, it has been recognized repeatedly as one of the most successful funds in Asia, earning several major industry accolades.

About Capital’s CEO Optimistic In The Digital Asset Industry 

While commenting on the latest news, Ted Chen, About Capital’s CEO, said the company is happy to seal the transaction. Chen noted that Huobi Global provides one of the best digital asset investment opportunities for millions of users.

Further, the CEO said the crypto sector is still at its infant stage, giving way for long-term expansion and growth. He added that the company is looking forward to rebuilding Huobi Global and making it a major digital asset exchange worldwide.

Chen promised to solidify user trust and the image of Huobi Global at the international level. 

In addition, Huobi’s Founder, Leon Li, also reacted to the news. He said this is the beginning of a new phase for the firm, adding:

“In the last nine years, Huobi has become among the largest digital asset exchange platforms globally. Since Huobi’s exit from the Chinese market last year, it has expanded its global reach notwithstanding the crypto winter. Instead, this has pushed the exchange to expand its international resources and global vision.”

Concluding, the Huobi founder said About Capital’s acquisition will help the firm to expand its global reach and user base.

Meanwhile, the price of Huobi’s token, HT, shot up following the buyout news. According to CoinGecko, the token is trading at $4.23, up by 0.59% in the past 24 hours.

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Ifeanyi Egede

Ifeanyi Egede is an experienced and versatile writer and researcher. He has keen interest in blockchain technology, cryptocurrencies, NFTs, Web3, metaverse, fintech and emerging technologies. He has tons of published works both online and in the print media. He has close to a decade of writing experience. When he is not writing, he spends time with his lovely wife and kids.