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Established in 2013, Hong Kong. No. of pairs - 250. Fiat - no. Centralized exchange. KYC & Restrictions - yes.

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Huobi’s HBUS Crypto Trading Platform Shuts Down

Huobi’s United States-based crypto exchange operator, HBUS, announced in a tweet posted on December 9 that it is shutting down. The San Francisco-based crypto trading platform said that it regretted to inform its users that it will cease all operations. The move was made to enable the company to return in a more integrated and impactful manner in line with its current strategic layout. This announcement follows the decision by Huobi Global to freeze all U.S. users’ accounts by mid-November. Huobi said that the American regulatory atmosphere for digital assets and cryptocurrencies had forced it to ban U.S.-based customers from the platform. But, Huobi Global had said at that time that it would not leave the United States market in entirety. However, it plans to direct the American users toward its “exclusive U.S. strategic partner,” the HBUS. This platform resembles Binance.US in that it is operated independently from the global exchange. Huobi’s Global Ascension Huobi Group unveiled an exchange in Argentina in September aiming to add support for a fiat-to-crypto gateway. Huobi successfully launched Huobi Argentina using Huobi Cloud. This service enables customers to set up over-the-counter (OTC) and digital asset exchanges on top of Huobi’s current platform. Huobi’s Thailand-based subsidiary in late July secured the country’s fifth official license to manage a fully-regulated digital asset exchange. Then, in October Huobi announced that it would unveil a fiat gateway aimed at supporting and transacting in the Turkish Lira later this year. The company also announced that it had successfully established a local team during an inaugural event. The company also set up a mobile application, localized language option, exclusive trading fees, and a lengthy strategy for Huobi Turkey. Also in July, Huobi’s Thailand-based subsidiary got the country’s fifth official license to operate a fully-regulated digital asset exchange. Huobi Thailand is expected to launch before the year ends providing both fiat on-ramps and regulated crypto-crypto trading on-ramps. Like what you're reading? Subscribe to our top stories The post Huobi’s HBUS Crypto Trading Platform Shuts Down appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.
Cryptovibes

Huobi US Closes Doors After Weak Demand

The US partner of the Huobi exchange has decided to fold its business, due to low demand and liquidity. The HBUS platform will stop its operations after December 15. Huobi US Failed to Spark Trading Interest HBUS, the platform that was supposed to replace the international Huobi service for US traders, was launched just months ago. HBUS encouraged all US-based traders to transfer from the international exchange, to avoid sanctions and limitations. The move to create HBUS with the help of a local partner is similar to the decision of Binance to move out of the US. HBUS worked on compliance, but could not regain the interest and liquidity. In the meantime, Huobi has turned into one of the powerhouses of crypto trading, mostly answering the demand of Chinese users. HBUS also hinted at a reorganization, closing doors so it can “return in a more integrated and impactful fashion as part of its ongoing strategic layout”. Still, users are urged to withdraw their funds before January 31. The decision to close was unexpected, as HBUS recently celebrated the expansion of the HUSD stablecoin. The $100 million milestone for $HUSD The #MarketCap of HUSD Token (HUSD) surpassed $100 Million on 3rd, December. HUSD is a safe and regulated $dollar-backed #Stablecoin to reach that threshold in five months.#cryptocurrency @HuobiGlobal @livio_huobi @HuobiWallet pic.twitter.com/cOMB4CoJ5S — HUSD (@Stablecoin_HUSD) December 6, 2019 The HUSD token is mostly used on Huobi Global, and despite the closing of the US branch still keeps its dollar peg and activity levels. HBUS Failed to Reach Binance.US Performance The trading volumes on HBUS had fallen to around $220,000 per day, a rock-bottom level more suited to a small-scale exchange. HBUS carried only a conservative selection of 56 pairs, as some assets were withdrawn from US traders due to local security laws. HBUS trading had almost frozen for most small altcoins, and the exchange did not even have a significant Bitcoin (BTC) market. The Huobi US shutdown arrived abruptly, but follows a trend of US-based markets closing. The Huobi US unexpected announcement arrives a few days after CryptoBridge put up a shutdown notice, hinting at possibly restarting in the future. At the same time, Binance.US carries more than $2.94 million in volumes. In the past, up to 30% of international Binance volumes came from the US, but the new market does not reflect that level of interest. Over the course of 2019, US buyers have been limited from most international markets, and have lost access to multiple coins and tokens. Overall, retail interest in owning crypto coins has been replaced with skepticism. What do you think about HBUS closing? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @Stablecoin_HUSD The post Huobi US Closes Doors After Weak Demand appeared first on Bitcoinist.com.
Bitcoinist

Cryptocurrency Exchange Huobi US To Cease Operations On December 15

The recognized cryptocurrency exchange Huobi US (HBUS) will be shutting down its trading activities on December 15. This is according to a recent notice released by the company […] The post Cryptocurrency Exchange Huobi US To Cease Operations On December 15 appeared first on UseTheBitcoin.
Use The Bitcoin

After a lackluster year, Huobi’s U.S. partner exchange is shutting down operations

Huobi Group's partner exchange dedicated to serving American customers, HBUS, is closing its operations after a little more than a year in business. Announced Monday, HBUS said it will stop offering trading services from Dec. 15 and customers have until Jan. 31 to withdraw their funds. The San Francisco-based exchange said it plans to “return in a more integrated” way as part of its “ongoing strategic layout.” Just last month, Huobi froze all accounts of U.S. users and encouraged users to use HBUS. "You may open an account in HBUS, if needed, the exclusive US strategic partner of Huobi Global, and transfer your assets to their platform," the announcement read. HBUS launched in the United States in July 2018 after long negotiations with Huobi Group. HBUS, a fully compliant U.S. entity, licensed part of Huobi's software and could use the Huobi.com domain. However, HBUS used a struggled to gain traction amid strong competition in the U.S. as well as internal issues. Huobi.com now once again directs to Huobi.  
The Block Crypto
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High hopes: big plans of large players

A bolivar-to-petro exchange app from Venezuela, the Chinese mining companies go public, more reflections on Bitcoin, Zuckerberg's sister at Huobi, VeChain to partner with BMW and Renault, and one more state-backed currency

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Crypto-philanthropy: the boom of charity funds

FBI has 130 crypto cases, Sacramento Kings mine ETH, Node Capital launches a US branch with 200,000 ETH, Huobi suspend services for Japan, Dan Larimer proposes new EOS constitution, Coinbase CEO creates GiveCrypto charity

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Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ

Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ China could start its pilot for the central bank digital currency (CBDC) before the end of this year, according to local news outlet Caijing. The article states that the anticipated pilot project “will go out of the central bank system and enter […] Cet article Price Analysis 09/12: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, XTZ est apparu en premier sur Bitcoin Central.
Bitcoin Central

EOS Price Hit after Getting a C- in Decentralization by Weiss

Blockchain project EOS started this week on a negative note after an independent agency downgraded its rating from B to C-. Weiss Crypto Ratings published a report on December 6 wherein it demoted EOS to lower ranks over its centralization. The agency noted that just 0.01 percent of the EOS token holders control over 68 percent of the voting power on its blockchain. That allows a handful of entities to practice censorship over hundreds of thousands of EOS investors. In comparison, provable decentralized projects like Bitcoin works across 9,300 nodes to confirm and validate transactions atop its blockchain. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 EOS spent a quiet weekend but its value eventually took a toll during the Monday session. The EOS-to-dollar exchange rate was down by $0.083, or 3.02 percent, as of 1658 UTC. Against bitcoin, the cryptocurrency did relatively better, falling about 1.64 percent to trade at 359 sats. The market capitalization likewise took a plunge roughly worth $500 million to settle a low at $2.534 billion. At its December peak, it was $2.613 billion. Ascending Channel The latest move downside brought EOS close to retesting the support of an Ascending Channel. While the lower trendline certainly capped the price from falling further downward, the negative sentiment arising from the Weiss report could weaken it in the near-term. The bearish case prompts EOS to retest to close below the Channel Support and target 304-342 sats area as an accumulation range. In the event of a breakdown, traders could extend their short position towards 284 sats while keeping a stop loss above the level at which they had entered the trade. EOS is trending inside an ascending channel | Source: TradingView.com, Coinbase On the other hand, the price has not failed to reach the upper levels so far. A pullback action from Channel support could push EOS back towards the Channel resistance. Traders with low-risk appetite could use the bounce-back as an opportunity to open a fresh long position 405 sats. Meanwhile, they could minimize risks by maintaining a stop-loss order just below the Channel support. A Consideration From a fundamental point of view, investors who were bullish on EOS might find it hard to digest its centralization issues. The sentiment could prompt some to switch their positions for tokens with more attractive opportunities. Such a scenario could suit the breakdown scenario as discussed above. Meanwhile, traders can look to accumulate EOS ahead of the launch of Voice. EOS creator Block.One on Thursday announced that it would launch the EOS-based social media platform on February 14. While the announcement did not help neutralize trading sentiments immediately, traders can still speculate on the Voice launch to make interim profits. One could watch out for a reversal from Channel resistance – a sign that traders are processing the Voice news – and place his/her upside positions. EOS Price Hit after Getting a C- in Decentralization by Weiss was last modified: December 9th, 2019 by Yashu GolaThe post EOS Price Hit after Getting a C- in Decentralization by Weiss appeared first on NewsBTC.
NewsBTC

EOS Price Hit after Getting a C- in Decentralization by Weiss

Blockchain project EOS started this week on a negative note after an independent agency downgraded its rating from B to C-. Weiss Crypto Ratings published a report on December 6 wherein it demoted EOS to lower ranks over its centralization. The agency noted that just 0.01 percent of the EOS token holders control over 68 percent of the voting power on its blockchain. That allows a handful of entities to practice censorship over hundreds of thousands of EOS investors. In comparison, provable decentralized projects like Bitcoin works across 9,300 nodes to confirm and validate transactions atop its blockchain. 1/6 We’ve had great respect for work and thinking that went into the #EOS project. But the Weiss Crypto Ratings model is not based on opinion. It’s driven by data. And that data has now caused a downgrade from B to C-. Here's why (full article to be published soon): — Weiss Crypto Ratings (@WeissCrypto) December 6, 2019 EOS spent a quiet weekend but its value eventually took a toll during the Monday session. The EOS-to-dollar exchange rate was down by $0.083, or 3.02 percent, as of 1658 UTC. Against bitcoin, the cryptocurrency did relatively better, falling about 1.64 percent to trade at 359 sats. The market capitalization likewise took a plunge roughly worth $500 million to settle a low at $2.534 billion. At its December peak, it was $2.613 billion. Ascending Channel The latest move downside brought EOS close to retesting the support of an Ascending Channel. While the lower trendline certainly capped the price from falling further downward, the negative sentiment arising from the Weiss report could weaken it in the near-term. The bearish case prompts EOS to retest to close below the Channel Support and target 304-342 sats area as an accumulation range. In the event of a breakdown, traders could extend their short position towards 284 sats while keeping a stop loss above the level at which they had entered the trade. EOS is trending inside an ascending channel | Source: TradingView.com, Coinbase On the other hand, the price has not failed to reach the upper levels so far. A pullback action from Channel support could push EOS back towards the Channel resistance. Traders with low-risk appetite could use the bounce-back as an opportunity to open a fresh long position 405 sats. Meanwhile, they could minimize risks by maintaining a stop-loss order just below the Channel support. A Consideration From a fundamental point of view, investors who were bullish on EOS might find it hard to digest its centralization issues. The sentiment could prompt some to switch their positions for tokens with more attractive opportunities. Such a scenario could suit the breakdown scenario as discussed above. Meanwhile, traders can look to accumulate EOS ahead of the launch of Voice. EOS creator Block.One on Thursday announced that it would launch the EOS-based social media platform on February 14. While the announcement did not help neutralize trading sentiments immediately, traders can still speculate on the Voice launch to make interim profits. One could watch out for a reversal from Channel resistance – a sign that traders are processing the Voice news – and place his/her upside positions. EOS Price Hit after Getting a C- in Decentralization by Weiss was last modified: December 9th, 2019 by Yashu GolaThe post EOS Price Hit after Getting a C- in Decentralization by Weiss appeared first on NewsBTC.
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