Huobi to freeze all US user accounts on Nov. 13


Cryptocurrency exchange Huobi Global announced today that it will freeze all U.S. user accounts starting Nov. 13. 

The exchange said it has been "gradually [disabling]" U.S. accounts to prevent trading and transferring. U.S. users are advised to return their borrowed funds in margin trading and withdraw all assets from the platform. Those who purchased Huobi's pre-paid cards will be refunded in USDT, according to a company blog post. 

The account purge does not mean that Huobi Global will exit the U.S. market, however. Huobi has a strategic partnership with San Fransisco-based HBUS, a platform dedicated to serving U.S. customers. Similar to Binance.US, HBUS runs a separate order book from Huobi Global and operates independently from the larger exchange. 

Related Reading

Get Your Crypto
Daily Brief

Delivered daily, straight to your inbox.

Bitcoin mining firm Genesis Digital Assets raises $431 million led by Paradigm

Iceland-headquartered bitcoin mining firm Genesis Digital Assets has raised $431 million in a strategic funding round led by investment firm Paradigm.  Genesis Digital Assets said in an announcement on Tuesday that other investors in the round included NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital. Kingsway also invested $125 million in a previous […]
Read Full Story
Sep 22, 2021, 2:30AM UTC