Huobi Global Purportedly Intends to Relocate to Caribbean
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The supreme crypto policy, common law judicial systems, and widespread use of the English language in the area are the causes. The leading candidates to host Huobi among Dominican countries are Panama and the Bahamas.
Huobi to Transfer Headquarters to the Caribbean
The Dominican Republic's government and Huobi will work together to improve the nation's cryptocurrency infrastructure. Huobi representatives visited Roosevelt Skerrit, the prime minister of Dominica, last year. Huobi now has offices in Hong Kong, South Korea, Japan, and the United States, in addition to its headquarters on the Seychelles islands in the Indian Ocean. FT reports that the business intends to transfer up to 200 of its 1,600 workers to the new Headquarters.
The move of the U.S.-founded exchange FTX from Hong Kong to the Bahamas in 2021 helped the Caribbean region emerge as a hub for the cryptocurrency business. Binance, C-Trade, and PrimeBit are other enterprises registered with regional authorities.
Justin Sun Claimed to Own Huobi Tokens
Recently, Justin Sun, the inventor of Tron, claimed to hold tens of millions of Huobi Tokens and plans to work to promote the latter now that he serves as an adviser to its associated cryptocurrency exchange. He said that in 2013, he first began collecting Huobi cryptocurrency exchange tokens. The coin's value has grown by about 80% after Sun entered the exchange's advisory board.
The exchange decided to sell its shares to About Capital Management of the Hong Kong public. The revelation eventually surfaced after months of suspicions that exchange creator Leon Li intended to sell his 60% control for at least $1 billion.