Cryptocurrency exchange Huobi has said rumors that it will merge with Poloniex are “categorically untrue.”
It was reported today by Colin Wu that the two exchanges would merge, a rumor to which Justin Sun subsequently added fuel.
Justin Sun, the founder of the Tron network, has an involvement in both exchanges. He was part of an investor group which acquired Poloniex in 2019 and is now an advisor to Huobi.
“We would like to state for the record that rumors stating Huobi will soon merge with Poloniex are categorically untrue,” Huobi said in an emailed statement.
“Huobi and Poloniex are operating independently now.”
Huobi Global, which was founded in China in 2013 and is one of Asia’s largest crypto platforms, is currently planning to move to the Caribbean, with Dominica, Panama and the Bahamas the frontrunners, according to Sun.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
