Crypto Exchange Huobi Global Will Sell Its Entire Stake To About Capital
The consolidation of crypto exchanges gathers pace.
According to the statement, after the completion of the transaction, the buyout vehicle of About Capital will control the majority stake of Houbi founder Leon Li.
After the completion of the deal, About Capital will help Huobi with further promotion and increase global exposure, along with focusing on other business expansion initiatives.
This is all about jurisdictions flexing their muscles over crypto exchanges gaining actual licences to operate, rather than existing somewhere out there in the ether. And such permissions require relationships with those authorities, and those are different skills to just running an efficient exchange.
Here is an example of what can go wrong: Crypto exchange Huobi Thailand closing down in July after license revoked
How many exchanges does the world need? How many will survive the purge?
And here is an example of one exchange continuing to grow:
Coinbase Expands its Services in Australia Via 2 New Crypto Features