In a new Twitter <a href="https://twitter.com/DujunX/status/1602332501573177344" target="_blank">post</a> dated Dec. 12, Du Jun, co-founder of cryptocurrency exchange Huobi Global, shared new insight on his experience of running ABCDE Capital, a $400 million Web 3.0 venture capital (VC) fund, in June this year. According to Jun, the idea for ABCDE Capital came in March, and by April, it was already registered in Singapore. However, amidst the $40 billion Terra Luna implosion in May, Jun said that "old money has all but fled" after the incident.

The Non-fungible token (NFT) bubble seemed to have busted as its number of active users fell by 88.9% and the total market cap declined by 42% from a high of $35 billion to $21 billion.

Following the sudden collapse of FTX, prominent cryptocurrency exchanges have continued to publish proof of their reserves to provide more transparency into their crypto holdings.

Huobi and Poloniex announced a strategic partnership on Nov. 30. Reports of a planned merger of the two cryptocurrency exchanges emerged and were denied last week. The two exchanges will “progressively cooperate” on Huobi’s HT coin ecosystem development, connectivity, liquidity sharing and global compliance. Beginning in December, the Huobi Advisory Board will make a monthly evaluation of all Poloniex projects, with top performers potentially directly listed on Huobi, the exchange stated. (Cointelegraph)

Huobi and Poloniex announced a strategic partnership on Nov. 30. Reports of a planned merger of the two cryptocurrency exchanges emerged and were <a href="https://medium.com/@CryptoSavingExpert/crypto-exchange-huobi-denies-rumors-of-merger-with-rival-poloniex-81dc353dcdcc" target="_blank">denied</a> last week.&nbsp;

Crypto lender BlockFi filed for Chapter 11 bankruptcy protection on Monday, <a href="https://www.coindesk.com/policy/2022/11/28/ftx-fallout-continues-as-crypto-lender-blockfi-declares-bankruptcy/">saying</a> it<b> </b>hoped to restructure while it continues its operations. BlockFi received a $400 million line of credit from bankrupt exchange FTX earlier this year and has about $257 million in cash on hand, according to <a href="https://www.businesswire.com/news/home/20221128005451/en/">a press release</a>.

Cryptocurrency exchange Huobi has partnered with the Commonwealth of Dominica to roll out a digital identity and national token service that promises digital citizenship of the West Indian island nation.

Dear Users,

Cryptocurrency exchange Huobi has said rumors that it will merge with Poloniex are "categorically untrue."

The Huobi Token (HT) rises by 22% in the last 24 hours. HT coin from a low of $3.70 on November 13 to a price of $7.16 at the time of publication. Just after a run on FTX that resulted in the exchange filing for Chapter 11 bankruptcy, cryptocurrency token prices have had a rough few weeks. However, signs of recovery are emerging as the industry works to recover from the scandal. The HT is one such offering that is leading the charge back to health.