Huobi separates from its South Korean branch and parent company! Acquires a large number of shares and changes its name

According to the report by South Korean media News1, Huobi Korea is weakening its relationship with its parent company Huobi Global by rebranding as Huobi and acquiring shares, in an effort to appear more like a local South Korean company.

Issues to Watch in Huobi's Reserves

Huobi Global has recently been hit with multiple FUD messages, raising concerns about its ability to withstand potential withdrawal pressure from users, depending on the quality of its reserve assets. However, according to data from Nansen here, out of its nearly 3 billion reserves, 32.7% are in its own platform token, 18% are in TRX, the native token of TRON blockchain founded by Justin Sun, and stablecoins only account for 19%. There are concerns that if a run on the exchange were to occur, risk assets would face significant devaluation, questioning the platform's ability to maintain good solvency.