Several cryptocurrency companies are planning to apply for a license in Hong Kong starting from June 1, with CoinEx, Huobi, Gate. io, BitMEX, OKX, ZA Bank, and Greenland Holdings among them.

According to an official announcement from New Fire Technology Holdings on May 29th, Huobi Hong Kong, a cryptocurrency trading platform, announced on May 26th, 2023 that it is preparing to offer cryptocurrency trading services for users. The Board of Directors of New Fire Technology Holdings hereby clarifies that the company has no business or equity relationship with Huobi Hong Kong. Huobi founder Li Lin previously stated on social media that he is no longer a shareholder of Huobi after October 8th, 2022 and any business activity of Huobi is unrelated to him personally. He also demanded that Huobi immediately stop infringing on his rights by using the Chinese characters "火币" and "火幣".

Huobi, the global cryptocurrency exchange, has announced the launch of spot trading and virtual assets custodian services in Hong Kong. The company is also applying for a virtual asset trading platform (VATP) license and working with independent auditors to ensure security, compliance, and anti-money laundering measures are in place.

A crypto whale recently transferred 28.56 billion $PEPE to Binance, with a slight loss. The whale received the $PEPE from Huobi on May 13 at $0.00000164 and transferred them to Binance at $0.00000148, resulting in a loss of approximately $44.9K.

The Securities Commission of Malaysia has ordered cryptocurrency exchange Huobi to cease operations in the country due to its failure to register as a digital asset exchange. The exchange has been directed to disable its website and mobile application on various platforms and to stop advertising to Malaysian investors. The regulator has advised investors to withdraw their assets from the platform and close their accounts, warning that continued usage could expose them to fraud. Huobi's founder and CEO, Leon Li, sold his controlling stake in the exchange to Hong Kong-based asset managers About Capital last October.

The Securities Commission Malaysia (SC) has taken action against Huobi Global Limited and its CEO, Leon Li, accusing them of operating an unregistered digital asset exchange (DAX) in Malaysia. Additionally, SC has ordered Huobi Global Limited to cease operations in the country, including disabling its website and mobile applications on multiple platforms such as Apple Store, Google Play, and any other digital application platforms.

Justin Sun, founder of Tron and "advisor" to Huobi, criticized the younger brother of Huobi founder Li Lin, Li Wei, for receiving millions of Huobi tokens for free and profiting from selling them. Sun stated that Wei should not have received the tokens in the first place and that the HT DAO committee plans to negotiate a refund and destruction of his remaining tokens. Sun emphasized the importance of fairness and rewarding those who contribute to the growth and development of HT DAO. Huobi recently announced a stake sale, but did not disclose the terms of the deal with About Capital Management. The price of Huobi's HT token has fallen over the past month but has recovered slightly following Sun's tweets.

Justin Sun, a crypto entrepreneur, has accused Li Wei, the brother of Huobi's exchange founder Li Lin, of acquiring Huobi Tokens (HT) for free and selling them for millions on the platform. Sun claims that Wei received the tokens at no cost and has been making huge profits by selling them on Huobi. Sun has promised to recover and destroy the remaining tokens with Wei through the help of the Huobi Global Advisory Committee and the HT DAO community. Huobi founder Li Lin has asked Sun to provide evidence of his claims and promised to pay a 10-times compensation if they are true.

Binance, which is known as the largest crypto exchange in the world, has been experiencing a decline in its market share for spot trading. Meanwhile, other exchanges such as OKX, Huobi, and Bybit have been gaining market share. The regulatory scrutiny and actions by US regulators against Binance have become a major concern for its users, and a potential enforcement action by the SEC could be devastating for the exchange and the market. Binance's CEO is planning to reduce his shareholding in the Binance.US crypto exchange to reduce the impact on its US arm amid a targeted attack against Binance. The Securities and Exchange Commission has issued warnings to Binance, Huobi, and OKX.

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