Huobi Onboards OKEx’s Former CEO Chris Lee to Lead M&A Strategy

It was only last week when Mr. Lee announced his resignation from ‎OKEx‎.

China’s Huobi has onboarded rival OKEx’s former CEO Chris Lee, who joins ‎the world’s third-largest cryptocurrency exchange to take on the ‎newly-created role of its Board Secretary and Vice President of Global ‎Business Development.‎

The trading venue, previously operating in China, has shifted most of its ‎business operations to Huobi.pro, which is headquartered in Singapore.‎

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It was only last week when Mr. Lee announced his resignation from ‎OKEx, formerly known as OKCoin, leaving the Hong Kong-based cryptocurrency ‎exchange just as it became the world’s largest by reported turnover. He didn’t ‎elaborate on the reasons for his departure.‎

In his new role, Chris will lead Huobi Group’s global M&A strategy and oversee the development of international teams.

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Huobi handled more than $1 billion of virtual currency trades during the past 24 ‎hours, making it the world’s third most active fee-charging crypto exchange, ‎according to Coinmarketcap.com, which aggregates trading statistics reported by ‎exchanges. ‎

Meanwhile, OKEx has been climbing in the global ranking over the past few weeks, ‎recently overtaking Binance as the biggest by turnover.‎

Commenting on his appointment, Lee said: “I am a big believer in ‎blockchain technology and view exchanges as the heart of the industry. ‎Huobi Group has built a strong foundation, from the popularity of its ‎exchange to the investments the company has made in the global ‎blockchain ecosystem. The combination of the team’s technical expertise ‎with industry-leading marketing and operational abilities positions it to ‎become the Goldman Sachs of this new era in finance. If done properly, ‎Huobi may even be bigger than Goldman one day.”  ‎

Leon Li, founder, and CEO of Huobi Group, added: “This year, we’re ‎making major investments in growing the global blockchain and digital asset ‎ecosystem, and I am confident in Chris’s passion and ability to help us ‎capture this opportunity.” ‎

‎”Licenses and guidelines will lead to more product diversification and ‎participation,” said Chris. “We will likely see growth in both utility and ‎security tokens, digital asset-related financial derivatives, and the ‎digitization of physical assets. These are all massive markets that we want ‎to capture to maintain our first-mover advantage.”‎

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