Huobi Discloses A Report On Total Asset Reserves Up To $3.5 Billion

On November 13, Huobi’s official announcement indicated some significant asset reserves, with a total asset value of $3.5 billion, including significant amounts of BTC, ETH, USDT, and TRX.

Huobi launched an industry initiative on November 12, 2022, which aimed to enhance and improve cryptocurrency trading platforms’ security and transparency. To demonstrate the determination and will to promote platform asset transparency, Huobi will take the lead in publicly releasing the balance of funds in the platform’s hot and cold wallets. As a long-term public event, the firm decided to show some of its major asset reserves in this announcement.

The official announcement revealed some significant asset reserves, including more than 32,000 BTC, 274,000 ETH, 820 million USDT, and 9.7 billion TRX. The total assets announced this time are around 3.5 billion US dollars, and the snapshot time is around 0:00 on November 13. 

Baiyu Capital M&A Fund completed the acquisition of shares from Huobi’s major shareholders in early October 2022, and has completed 100% margin reserve verification during the handover process. To boost user confidence and accelerate asset transparency, Huobi will work with a third party to accomplish and publicize the 100% margin Merkle tree reserve certificate in the coming month.

Huobi has adhered to the operating philosophy of users first since its inception nine years ago, and has insisted that the interests of users and the safety of user assets are Huobi’s top priorities. They promise not to misappropriate or embezzle any user assets and insist on 100% safe payment of user assets.

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