Title: About Capital Acquires Huobi Cryptocurrency Exchange
About Capital Completes Acquisition of Huobi Global
Huobi Global's major shareholder has finalized a transfer of shares.
Huobi Global announced that its controlling shareholder has reached an agreement with About Capital to sell its entire stake in Huobi Global. Following the completion of the transaction, About Capital Management (HK) ("About Capital") will assume majority ownership of Huobi Global. The transaction solely involves a change in controlling shareholders and does not impact Huobi's core operations or management team.
According to About Capital, post-acquisition initiatives will include a series of business expansions and new international brand promotion strategies. These will involve the establishment of a global strategic advisory board led by industry leaders, allocation of risk reserves up to $1 billion, and enhanced compliance procedures. Upon successful implementation of these initiatives, Huobi Global aims to position itself strongly to offer premier investment and trading services to international investors.
Headquartered in Hong Kong, About Capital Management was established in 2009 as a fund management company specializing in special situation strategies to identify long-term investment opportunities. Since its inception, it has garnered a series of prestigious industry awards for top-performing funds in Asia.
Commenting on the acquisition of Huobi Global, Ted Chen, CEO of About Capital, stated, "We are pleased to have completed the transaction. Huobi Global provides the best digital asset investment services to millions of international users. We believe the digital asset industry is still in its early stages with substantial long-term growth potential. We are fully committed to further enhancing Huobi's operations, such as increasing risk capital, developing institutional business, and launching new global brand initiatives."
"We are confident that our comprehensive approach to rebuilding Huobi Global into a leading international digital asset exchange will bolster both trust and recognition to expand our global user base," added Ted Chen.
Leon Li, founder of Huobi, remarked, "The transaction marks a new chapter for Huobi Global. Over the past nine years, we have witnessed Huobi's development into one of the world's largest digital asset exchanges. After Huobi withdrew from the mainland Chinese market in 2021, we accelerated our globalization efforts amidst challenging market conditions, motivating Huobi to seek a new equity structure with global vision and resources. We believe that About Capital's successful acquisition will contribute to Huobi's global expansion on both fronts."
The transaction also includes a series of critical measures to ensure smooth transition of daily operations, improve risk capital provision, and stabilize the core management team.
About Huobi Global
Established in 2013, Huobi Global is one of the world's largest digital asset exchange platforms, serving millions of users across international markets. Since inception, Huobi Global has been committed to providing premier digital asset investment services. Its robust infrastructure, product innovation, and financial strength create a secure trading environment, focusing on helping international users achieve investment goals. For more information, please visit Huobi's official website: www.huobi.com.
About About Capital
About Capital Management (HK) Co., Limited, based in Hong Kong, was founded by Ted Chen in 2009. Prior to this, Mr. Chen was a founding partner of leading Chinese investment management firm Greenwoods Asset Management, boasting over 30 years of successful experience in capital markets and investment management. About Capital focuses on exploiting long-term investment opportunities. For more information, please visit the official website: www.aboutcap.com.
