Cryptocurrency exchange Huobi announced that it has started strategic partnerships with Poloniex exchange in many business areas.
The collapse and bankruptcy of FTX, one of the world’s largest cryptocurrency exchanges, brought a new era with it. Cryptocurrency exchanges focused on transparency and liquidity in the new period. In particular, Binance has started to demonstrate a more open management with the Merkle Tree method. This period, when the stock markets spend a lot of time, is due to the fact that investors understand what can happen if a stock market leaves. Even the biggest stock market can’t keep up the moment it starts to lose its investors. Amid all these exchange processes, strategic cooperation between Huobi and Poloniex began.
Huobi and Poloniex Relationship Not New to the Agenda
In the past days, allegations have been made that the Huobi exchange will merge with Poloniex. The claim made by a journalist stated that the merger will take place through Justin Sun. However, Huobi explained that these claims are untrue.
Not long after the allegations, Huobi and Poloniex collaboration began. In the statements made by Huobi, it was noted that the two exchanges will focus on developing the HT ecosystem. It will also apply across multiple lines of business, including partnership, project connectivity, liquidity sharing and global compliance. The partnership emerged with the aim of building the world’s best trading platform and gaining the trust of users.
Also, the best performing projects on Poloniex will be able to be listed directly on the other exchange. Justin Sun attracted attention by being on the advisory board of both exchanges.
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