Crypto exchange Huobi Global announced that About Capital Management (HK) Co. Ltd, an Hong Kong based-asset management firm became the exchange’s controlling shareholder following a successful buyout deal.

As a majority stakeholder, About Capital intends to fuel Huobi’s international brand promotion and business expansion initiatives, adding that: “Upon successful implementation of the initiatives, Huobi Global will be well positioned to provide first-class trading and investment services to international investors.”

Previously, in August, Sam Bankman-Fried, the CEO of crypto exchange FTX, denied a Bloomberg report that claimed FTX was planning to purchase Huobi.

Huobi concluded the announcement by highlighting its exit from China.

According to an official announcement from Huobi, the partnership will see the company provide research and development, technology and financial support for the Busan Digital Currency Exchange.
Source: Investing.com
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