Huobi Has Denied The Reports That It May Merge With Poloniex

Huobi, a cryptocurrency trading platform, has dismissed reports that it will merge with Poloniex as “categorically wrong.”

Colin Wu announced that the two exchanges would merge, a rumor that was later bolstered by Justin Sun.

The creator of the Tron network, Justin Sun, is connected to both markets. He was a member of the investment group that in 2019 bought Poloniex and is now an advisor to Huobi.

“Huobi will not be merging with Poloniex as has been reported; we want to set the record straight ” The exchange stated in an official email.

Now that they’ve split apart, the two firms can focus on their respective businesses.

According to Sun, Huobi Global, one of Asia’s major crypto platforms, is preparing a transfer to the Caribbean, with Dominica, Panama, and the Bahamas as the frontrunners. The exchange was formed in China in 2013.

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