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China crypto ban slashes revenues and spurs Huobi to ‘go global’

November 9, 2021
Source: newsbinding.com newsbinding.com
News Snapshot:
China’s ban on private digital assets will wipe out almost a third of revenues for Huobi Global, one of the world’s largest cryptocurrency exchanges, and force it to look elsewhere for growth, the co-founder said. Huobi is being forced to cut off its clients in China and give up 30 per cent of its revenues because of the country’s crackdown on cryptocurrencies. To make up for that loss the exchange plans to hunt for customers in other financial centres, underlining the global impact [of China’s decision](//www.ft.com/content/31f7edf7-8e05-46e1-8b13-061532f8db5f) . “Between late September to December 31 we are in the process of stopping...
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