Problems continue to be associated with major cryptocurrency exchange platforms

The unstable situation with cryptocurrency exchange platforms continues to generate conflicts that shake the price action of the main cryptocurrencies by market capitalization.

According to information published in the Cointelegraph portal, the situation of the controversial case regarding the purchase of Huobi Korea's shares from Huobi Global has been made public, and it has been reported that the deal has already been closed, and that the two platforms operate separately.

According to the aforementioned statement since last October 2022, About Capital fund became the largest shareholder and actual controller of Huobi Global, however, the agreement did not include the shares of Huobi Korea, which belonged to Huobi Global shareholders and were divested in the corporate structure.

It has been reported that Huobi Korea in January 2021 was the country's second largest exchange at the time of its certification by the Korea Internet and Security Agency, the Korean exchanage was boosted by concerns over the parent company's reserve test report published in December.

In this sense, the truth is that the exchange platform Huobi cut all ties with Huobi Korea, it remains to be seen whether Huobi is really financially insolvent as a result of this separation, which is detrimental to its users.

Cointelegraph Huobi clarifies Korean operations: Two separate entities aiming at same market. Link

The cover image was designed by the author: @lupafilotaxia, incorporating image background: Koreatimes