Huobi Korea seeks to split from parent company, change its name: Report

Local media reported Jan. 9 that cryptocurrency speech Huobi Korea is preparing to acquisition its shares from Huobi Global and alteration its name. About 72% of shares successful Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean president Cho Kook-bong would instrumentality implicit Li’s stock successful the Korean company. Cho is besides the proprietor of a large crypto mining cognition successful the country, according to section outlet News1.

Huobi has experienced a fig of issues successful caller days. It reportedly planned laid disconnected 20% of its workforce Jan. 6, after a $6 cardinal outflow that week.