Huobi Merges with Poloniex for Joint Liquidity Sharing

In a rebranding campaign, Huobi is signing an agreement with Poloniex. The strategic partnership between the two crypto exchanges will focus on HT ecosystem development, project collaboration, liquidity sharing, and global compliance.

Huobi and Poloniex Announce Strategic Partnership

In an effort to create “the world’s best trading platform” and gain user trust, cryptocurrency exchange Huobi announced a strategic partnership with the Poloniex platform.

As part of the agreement, the exchanges will begin a “gradual cooperation in various business aspects.” The joint efforts will focus on:

  • developing the Huobi coin ecosystem (HT);
  • studying and evaluating Poloniex projects with the subsequent listing of the best of them on Huobi;
  • joint liquidity sharing;
  • global compliance.

The decision to cooperate with Poloniex was made by Huobi’s advisory board to “strengthen the site’s globalization strategy.” As a reminder, rumors about the merger of crypto exchanges began circulating in the Twitter community a week before the official announcement but were refuted by representatives of Huobi.

Rumors that the strategic partnership between the two crypto exchanges is nothing more than the desire of Justin Sun, founder of the Tron Foundation, to merge their assets have been actively discussed in the community. Thus, in 2019, Sun confirmed that he was one of the investors who bought Poloniex. This came after repeated claims that he was “not buying anything.”

In October this year, rumors surfaced that Sun was interested in buying a majority stake in Huobi, which again was actively denied by the Tron founder himself. As a result, Leon Li, the founder of Huobi Global, sold his shares to the investment company About Capital Management. However, there were speculations in the community that Justin Sun was the final beneficiary of the purchase. Tron’s founder once again began to deny such assumptions publicly. Soon the exchange representatives announced that Sun had joined the advisory board of the renewed Huobi. After that, on Justin’s official Twitter page information appeared confirming his connection with Huobi. It was later revealed that the Tron founder owns “tens of millions” of HT, making him the largest holder of Huobi tokens.

There is even a saying in the community that everything Justin Sun publicly denies is pure truth. It is worth noting that the founder of Tron willingly participates in various operations to “save” CeFi and DeFi platforms. For example, he has already applied for a capital contribution to the Binance fund, the main goal of which is to buy crypto companies that are struggling after the collapse of FTX

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