Huobi Token
5 altcoins that could be ripe for a short-term rally if Bitcoin price holds $19K
The S&P 500 and the Nasdaq Composite fell to a new year-to-date low last week and closed the week with a loss of 1.55% and 3.11%, respectively. The scenario changed drastically on Oct. 17 after the earnings, season ramped up and a sharp policy reversal from U.K. Finance Minister Jeremy Hunt added detail to the government’s plan to fix his predecessor’s (Kwasi Kwarteng’s) fiscal package, which had triggered a record fall in the value of the GBP and a near liquidation of pension plans in the United Kingdom. At the time of writing, the Dow is up 1.78%, while the S&P 500 and Nasdaq present 2.57% and 3.26% respective gains. Meanwhile, Bitcoin (BTC) has managed to stay well above its year-to-date low showing short-term outperformance. Some analysts expect that Bit...
Huobi co-founder reportedly looks to sell majority stake valued at over $1B
Leon Li, the co-founder of global crypto exchange Huobi, is reportedly in talks to sell the majority of his stake in the company, which could be valued at over $1 billion. Li reportedly had discussions with multiple financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion, reported Bloomberg. A Huobi spokesperson confirmed to Bloomberg, without disclosing details, that the co-founder is engaging with numerous international giants to sell his majority share in the crypto exchange. Li reportedly informed other backers of the company of his decisions during a shareholder meeting in July this year. Li has transferred his CEO duties to Hua Zhu to focus on his health. The report also claimed ...
