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Huobi Acquires Key Departments of Poloniex

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On March 9, according to the Huobi staff letter disclosed by insiders, many departments of the cryptocurrency trading platform Poloniex will be integrated into…

Huobi Acquires Key Departments of Poloniex

On March 9, according to the Huobi staff letter disclosed by insiders, many departments of the cryptocurrency trading platform Poloniex will be integrated into the Huobi team, including employees of assets, market&operation, product design, liquidity, customer service, compliance and other related work. The Poloniex Business Center has secondary departments Engineering and Infrastructure.

People familiar with the matter: the trading platform Poloniex business will be fully integrated into Huobi

Analysis based on this information:


On March 9, insiders revealed that Huobi, a leading cryptocurrency trading platform, has acquired key departments of Poloniex. The move will see the integration of several departments of the Poloniex platform into the Huobi team, including assets, market and operation, product design, liquidity, customer service, and compliance departments. The acquisition is aimed at strengthening and expanding the Huobi platform, which has been making significant efforts in expanding its global reach.

Poloniex is a US-based cryptocurrency exchange platform that was acquired by Circle, a global cryptocurrency financial services firm, in February 2018. It has been operating as a separate entity under the Circle umbrella, but according to the insider report, many of its departments will now be absorbed by Huobi. However, the Poloniex Business Center will continue to operate as a separate entity with its secondary departments engineering and infrastructure to be left untouched.

The move is a welcome development in the cryptocurrency trading space, as it provides greater consolidation and competition, which often leads to better deals for traders. The acquisition will also increase Huobi’s capacity and capabilities by integrating the experienced workforce and knowledge-base of Poloniex. This will assist Huobi in further expanding its global reach and increasing its total transaction volumes.

Huobi has been making significant efforts to expand its global reach and partner with other cryptocurrency companies. Its acquisition of departments from Poloniex is a clear step in that direction. The acquisition will allow Huobi to leverage Poloniex’s knowledgebase, experience, and resources to strengthen its business model and offer a better experience to its customers.

In conclusion, the acquisition of several key departments of Poloniex by Huobi is a significant development in the cryptocurrency trading space. The move will increase competition and market consolidation, and will likely lead to better deals for traders. The integration of experienced personnel and knowledge-base of Poloniex will strengthen and expand the Huobi platform, further expanding its global reach.

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