Formerly China’s leading crypto exchange, Huobi Global, has announced that it has been taken over by an investment strategy company.
On Oct. 7, Huobi Global announced that its controlling shareholders have completed the transactions to sell their entire shareholdings to About Capital Management.
About Capital is a low-key Hong Kong-based fund management firm that was started by Ted Chen in 2008. Chen also founded the Chinese hedge fund giant Greenwoods Asset Management.
The announcement stated that About Capital’s buyout will not affect Huobi’s “core operation and business management teams.” The transaction only involves the changing of the controlling shareholders.
Earlier this year, Bloomberg valued Huobi Global at $3 billion, as reported by BeInCrypto. In September, FTX CEO Sam Bankman-Fried denied
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