Local media reported Jan. 9 that cryptocurrency exchange Huobi Korea is preparing to purchase its shares from Huobi Global and change its name. About 72% of shares in Huobi Korea are owned by Huobi Global cofounder Leon Li. Huobi Korean chairman Cho Kook-bong would take over Li’s share in the Korean company. Cho is also the owner of a major crypto mining operation in the country, according to local outlet News1.
Huobi has experienced a number of issues in recent days. It reportedly planned laid off 20% of its workforce Jan. 6, after a $6 million outflow that week.
Source: https://cointelegraph.com/news/huobi-korea-seeks-to-split-from-parent-company-change-its-name-report
