Written by: BG

Proofread by: Sister Karamazov

(Source of picture)

On the morning of July 27 local time, several domestic financial news outlets included jrj.com.cn reported that Beijing Huobi Network Technology Co., Ltd., the operator of Huobi.com, is planning to apply for cancellation of its business registration after its board members adopted the resolution to dissolve the company on July 22.

Huobi.com claims to be the world-leading Bitcoin and Ethereum trading platform with users in more than 100 countries and regions. However, according to Mr. Miles Guo’s revelation, Huobi.com has been an instrument for the CCP to launder money with all its user data in the hands of the CCP. Many Chinese officials and businessmen who tried to profit from the speculations in cryptocurrencies or transfer their money overseas by buying cryptocurrencies on this platform have found themselves ensnared in the traps of the CCP.

Since May this year, the CCP has been tightening its hold on the throat of bitcoin or other cryptocurrencies, partly to clean the way for the launch of e-yuan, the CCP’s sovereign digital currency, and partly to stop the capital flight from China.

The fate of Huobi.com may have been determined already when the CCP’s crackdown on cryptocurrencies began. The official announcement of its termination seems to hint at more ruthless blows to the cryptocurrency market – is it a tactical move of the CCP’s financial war to push the world financial market off the cliff?


火币科技短线跳水跌近7% 李林拟注销北京火币天下网络有限公司

(The views and opinions expressed in this article are those of the author’s own)


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