The platform is reportedly facing problems in China.
Analysts also claim that it has become insolvent.
Rumors can
act as a dangerous weapon, triggering panic and leading to capital flight. The
cryptocurrency exchange, Huobi learned this the hard way, losing $500 million due
to gossip that its leadership had been arrested in China and that the platform
was on the verge of bankruptcy.
Huobi's TVL Drops by $500
Million
Initial
reports of Huobi's troubles emerged on 4 August after the initial news that
representatives from the exchange had been arrested in China in relation to
investigations involving ties to gambling platforms. On Twitter, Huobi's
spokesperson stated that rumors regarding the arrest of high-ranking exchange
representatives were false.
However, in
the meantime, there has also been mention of the platform's solvency issues, which
were reportedly related to the devaluation of the stablecoin Tether (USDT).
Analytical
data from DefiLlama confirmed that USDT and USD Coin
(USDC) were among the stablecoins of which Huobi held less than $90 million in assets as of 5 August. According to
the exchange's last audit, user accounts held $630 million in USDT alone. Thus,
Adam Cochran suggested that Huobi has significant solvency issues.
The current
data from DefiLlama shows that Huobi's wallets held just $72 million in USDT and
USDC. Simultaneously, the exchange's total value locked (TVL) dropped $500
million, from over $3 billion to $2.5 billion.
Huobi's TVL. Source: DefiLlama
Huobi's Ongoing Troubles
Even though
Huobi denies these rumors, the outflow of capital from the exchange is
undeniable. But, these are not the platform's only problems. In May, it had to
shut down its operations in Malaysia after the Securities Commission Malaysia
(SCM) intervened. In fact, the exchange had not registered as a local cryptocurrency
operator, which meant that they had been operating illegally, leading to their website and
mobile apps being blocked in the country.
Earlier in
the year, Finance Magnates reported that the exchange was planning to
lay off about 20% of its workforce, aiming to maintain "a very lean
team" due to adverse changes in the industry and declines in
cryptocurrency asset valuations.
According
to Bitget's latest report by Bitget, the crypto space is currently dominated by Gen
Z investors. The study revealed that Gen Z users, who are typically tech-savvy
and influenced by social media, make up 44% of all copy traders on Bitget.
Rumors can
act as a dangerous weapon, triggering panic and leading to capital flight. The
cryptocurrency exchange, Huobi learned this the hard way, losing $500 million due
to gossip that its leadership had been arrested in China and that the platform
was on the verge of bankruptcy.
Huobi's TVL Drops by $500
Million
Initial
reports of Huobi's troubles emerged on 4 August after the initial news that
representatives from the exchange had been arrested in China in relation to
investigations involving ties to gambling platforms. On Twitter, Huobi's
spokesperson stated that rumors regarding the arrest of high-ranking exchange
representatives were false.
However, in
the meantime, there has also been mention of the platform's solvency issues, which
were reportedly related to the devaluation of the stablecoin Tether (USDT).
Analytical
data from DefiLlama confirmed that USDT and USD Coin
(USDC) were among the stablecoins of which Huobi held less than $90 million in assets as of 5 August. According to
the exchange's last audit, user accounts held $630 million in USDT alone. Thus,
Adam Cochran suggested that Huobi has significant solvency issues.
The current
data from DefiLlama shows that Huobi's wallets held just $72 million in USDT and
USDC. Simultaneously, the exchange's total value locked (TVL) dropped $500
million, from over $3 billion to $2.5 billion.
Huobi's TVL. Source: DefiLlama
Huobi's Ongoing Troubles
Even though
Huobi denies these rumors, the outflow of capital from the exchange is
undeniable. But, these are not the platform's only problems. In May, it had to
shut down its operations in Malaysia after the Securities Commission Malaysia
(SCM) intervened. In fact, the exchange had not registered as a local cryptocurrency
operator, which meant that they had been operating illegally, leading to their website and
mobile apps being blocked in the country.
Earlier in
the year, Finance Magnates reported that the exchange was planning to
lay off about 20% of its workforce, aiming to maintain "a very lean
team" due to adverse changes in the industry and declines in
cryptocurrency asset valuations.
According
to Bitget's latest report by Bitget, the crypto space is currently dominated by Gen
Z investors. The study revealed that Gen Z users, who are typically tech-savvy
and influenced by social media, make up 44% of all copy traders on Bitget.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Coinbase Asks Courts to Bar States From Regulating Prediction Markets
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
OnePrime’s Jerry Khargi on Infrastructure, Liquidity & Trust | Executive Interview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
Recorded live at FMLS:25 London, this exclusive executive interview features Jerry Khargi, Executive Director at OnePrime, in conversation with Andrea Badiola Mateos from Finance Magnates.
In this in-depth discussion, Jerry shares:
- OnePrime’s journey from a retail-focused business to a global institutional liquidity provider
- What truly sets award-winning trading infrastructure apart
- Key trends shaping institutional trading, including technology and AI
- The importance of transparency, ethics, and reputation in long-term success
- OnePrime’s vision for growth over the next 12–24 months
Fresh from winning Finance Magnates’ Best Trading Infrastructure Broker, Jerry explains how experience, mentorship, and real-world problem solving form the “special sauce” behind OnePrime’s institutional offering.
🏆 Award Highlight: Best Trading Infrastructure Broker
👉 Subscribe to Finance Magnates for more executive interviews, market insights, and exclusive coverage from the world’s leading financial events.
#FMLS25 #FinanceMagnates #OnePrime #InstitutionalTrading #Liquidity #TradingInfrastructure #ExecutiveInterview
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
How does the Finance Magnates newsroom decide which updates are worth covering? #financenews
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
What makes an update worth covering in financial media?
According to Yam Yehoshua, Editor-in-Chief at Finance Magnates, editorial focus starts with relevance: stories that serve the industry, support brokers and technology providers, and help decision-makers navigate their businesses.
A reminder that strong financial journalism is built on value, not volume.
Liquidity as a Business: How Brokers Can Earn More
Liquidity as a Business: How Brokers Can Earn More
This webinar will focuses on how brokers can create new revenue streams by launching or enhancing their liquidity business.
John Murillo, Chief Dealing Officer of the B2BROKER group, covers how:
- Retail brokers can launch their own B2B arm to distribute liquidity and boost profitability.
- Institutional brokers can upgrade their liquidity offering and strengthen their market position.
- New entrants can start from scratch and become liquidity providers through a ready-made turnkey solution.
Hosted by B2BROKER, a global fintech provider of liquidity and technology solutions, the session will reveal how to monetize liquidity, accelerate business growth, and increase profitability using the Liquidity Provider Turnkey solution.
📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: / https://www.linkedin.com/company/financemagnates/
👍 Facebook: / https://www.facebook.com/financemagnates/
📸 Instagram: / https://www.instagram.com/financemagnates_official/?hl=en
🐦 X: https://x.com/financemagnates?
🎥 TikTok: https://www.tiktok.com/tag/financemag...
▶️ YouTube: / @financemagnates_official
This webinar will focuses on how brokers can create new revenue streams by launching or enhancing their liquidity business.
John Murillo, Chief Dealing Officer of the B2BROKER group, covers how:
- Retail brokers can launch their own B2B arm to distribute liquidity and boost profitability.
- Institutional brokers can upgrade their liquidity offering and strengthen their market position.
- New entrants can start from scratch and become liquidity providers through a ready-made turnkey solution.
Hosted by B2BROKER, a global fintech provider of liquidity and technology solutions, the session will reveal how to monetize liquidity, accelerate business growth, and increase profitability using the Liquidity Provider Turnkey solution.
📣 Stay updated with the latest in finance and trading! Follow Finance Magnates across our social media platforms for news, insights, and event updates.
Connect with us today:
🔗 LinkedIn: / https://www.linkedin.com/company/financemagnates/
👍 Facebook: / https://www.facebook.com/financemagnates/
📸 Instagram: / https://www.instagram.com/financemagnates_official/?hl=en
🐦 X: https://x.com/financemagnates?
🎥 TikTok: https://www.tiktok.com/tag/financemag...
▶️ YouTube: / @financemagnates_official
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
How FYNXT is Transforming Brokerages with Modular Tech | Executive Interview with Stephen Miles
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Join us for an exclusive interview with Stephen Miles, Chief Revenue Officer at FYNXT, recorded live at FMLS:25. In this conversation, Stephen breaks down how modular brokerage technology is driving growth, retention, and efficiency across the brokerage industry.
Learn how FYNXT's unified yet modular platform is giving brokers a competitive edge—powering faster onboarding, increased trading volumes, and dramatically improved IB performance.
🔑 What You'll Learn in This Video:
- The biggest challenges brokerages face going into 2026
- Why FYNXT’s modular platform is outperforming in-house builds
- How automation is transforming IB channels
- The real ROI: 11x LTV increases and reduced acquisition costs
👉 Don’t forget to like, comment, and subscribe.
#FYNXT #StephenMiles #FMLS2025 #BrokerageTechnology #ModularTech #FintechInterview #DigitalTransformation #FinancialMarkets #CROInterview #FintechInnovation #TradingTechnology #IndependentBrokers #FinanceLeaders
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
Executive Interview | Charlotte Bullock | Chief Product Officer, Bank of London | FMLS:25
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
In this interview, we sat down with Charlotte Bullock, Head of Product at The Bank of London, previously at SAP and now shaping product at one of the sector’s most ambitious new banking players.
Charlotte reflects on the Summit so far and talks about the culture inside fintech banks today. We look at the pressures that come with scaling, and how firms can hold onto the nimble approach that made them stand out early on.
We also cover the state of payments ahead of her appearance on the payments roundtable: the blockages financial firms face, the areas that still need fixing, and what a realistic solution looks like in 2026.
