The current chief executive officer is Hua Zhu, an ex-Alibaba Group Holding Ltd. Li had at different times ceded daily management as he dealt with health issues. In 2017, Chinese regulators told local exchanges to stop hosting trades between fiat and digital money, the first of a stream of pronouncements that quelled a perceived threat to the country’s financial stability. coder Li, who quickly transformed the Beijing startup into the world’s most active Bitcoin exchange by charging zero transaction fees. Huobi was co-founded in 2013 by former Oracle Corp. “We are confident that the holistic approach to rebuild Huobi Global as the premier international virtual asset exchange would solidify both the recognition and trust of Huobi’s international users.” Chen founded About in 2008 and previously was a founding partner of China investment manager Greenwoods Asset Management. “We believe the virtual asset industry is still in its early stage and there is tremendous upside for long term growth,” said Ted Chen, chief executive officer of About Capital, in the statement.
#WEALTH TRACKER STIFEL SERIES#
The transaction has no impact on Huobi’s core operations and business management teams, the company said.Īfter the transaction, Huobi Global will enact a series of initiatives including the injection of sufficient capital in margin and risk provision funds, as well as measures to further enhance competitiveness and compliance procedures, a spokesperson said. “Following Huobi’s exit from the Chinese mainland market in 2021, we have accelerated our globalization push amidst a challenging market environment, which adds to the impetus for Huobi to seek a new shareholding structure with a global vision and international resources,” Li said in the statement. As of Saturday, it was ranked eighth in 24-hour volume among exchanges with a top “trust score” of 10 for the legitimacy of its data, according to tracker CoinGecko. The bourse has since accelerated its expansion into overseas markets including Turkey and Brazil, but is fighting bigger rivals such as Binance and FTX. Li’s exchange stopped providing services to Chinese users after Beijing declared crypto transactions illegal last year. Once the most active Bitcoin trading platform on the globe, Huobi has in recent years retreated from China, its biggest user base and revenue source at one time. Bloomberg reported the intended sale in August. The co-founder will no longer be involved in any aspect of Huobi Global’s business, according to a Huobi spokesperson. Li sold his holding in Huobi to a buyout firm managed by About Capital Management (HK)Co., the company said in an emailed statement. Hours later, 147 Republicans voted to overturn Biden’s victory, which Trump falsely claimed was tainted by fraud.(Bloomberg) - Huobi Global said controlling shareholder Leon Li sold his entire stake in the cryptocurrency exchange operator and will cease to be involved in its operations. 6, 2021 attack on the Capitol when supporters of Republican former President Donald Trump forcefully prevent Congress from certifying Democratic President Joe Biden’s election win. The shift in giving patterns shows how banks are rethinking their allegiances amid increased political partisanship.
The CRP data draws from data released by the Federal Election Commission as of Sept. And of the top-20 congressional recipients of bank PAC donations this cycle, 10 are Democrats compared with six in 2020, three in 2018, and one ahead of the 2016 election.
#WEALTH TRACKER STIFEL CRACKED#
Please try again Article contentįollowing the 2007-09 financial crisis when Democrats cracked down on banks, lenders have typically looked to business-friendly Republicans for support in Congress.īut while they are getting less cash overall, Democrats have increased their share of the pie this cycle to 40%, their highest proportion since the 2010 cycle.
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