Huobi to freeze all US user accounts on Nov. 13

Bitcoin • November 4, 2019, 1:56PM EST
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Cryptocurrency exchange Huobi Global announced today that it will freeze all U.S. user accounts starting Nov. 13. 

The exchange said it has been "gradually [disabling]" U.S. accounts to prevent trading and transferring. U.S. users are advised to return their borrowed funds in margin trading and withdraw all assets from the platform. Those who purchased Huobi's pre-paid cards will be refunded in USDT, according to a company blog post. 

The account purge does not mean that Huobi Global will exit the U.S. market, however. Huobi has a strategic partnership with San Fransisco-based HBUS, a platform dedicated to serving U.S. customers. Similar to Binance.US, HBUS runs a separate order book from Huobi Global and operates independently from the larger exchange. 

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Celia Wan profile picture Celia Wan

Celia joined The Block as a reporter after earning her BA in the History of Science from the University of Chicago. Having spent years pondering over why 2+2 cannot equal 5, she is interested in the history and philosophy of mathematics, computation, and cryptography. She also had a very brief stint at Crunchbase News.

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