Huobi Korea to Break Away from Parent Company, Report Claims
A local report from news firm news1, claims Huobi Korea has plans for a split from parent company Huobi Global. The subsidiary will purchase all shares from its parent body and go independent. Huobi Korea to Change its Name According to the release, the Korean subsidiary of the exchange platform intends to put stronger roots down in the region. As such, the company is set to acquire its shares from the main body. It also reportedly has plans to take on a new name. Notably, this is not a big departure from its former title as the report says it will settle on “Huobi.” At the moment the majority percentage, over half of Huobi Korea shares belong to the co-creator of Huobi Global Leon Li. The purchase in talks would see the Chairman of Huobi Korea, Cho Kook-bong who is already a major shareholder take ownership of Li’s units. News1 took care to note that Cho already owns a company in the crypto sector. Also, one of the nation’s biggest crypto mining ventures belongs to the Huo...