FinTech news in Huobi category

The parent firm Huobi Group now operates an umbrella of crypto-related entities, including its flagship exchange Huobi Global, its venture capital arm Huobi Ventures and a crypto cloud service. Huobi Global announced today that its controlling shareholder has completed the transaction to sell its entire stake to About Capital, a Hong Kong-based fund management firm started by Ted Chen, who founded China’s hedge fund giant Greenwoods Asset Management. Huobi Global, once China top crypto exchange, has been retooling itself since exiting from the home market following Beijing’s crypto ban. Founded in 2013, Huobi Global rode China’s crypto boom before Beijing declared all crypto transactions illegal in 2021.

OP Crypto is raising $100 million for its new investment, dubbed ‘Fund of Funds’, to deploy capital into emerging fund managers focused on early-stage crypto investments.