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Huobi Acquires Poloniex: A Step Forward Towards Consolidation

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On March 9, according to the Huobi staff letter disclosed by insiders, many departments of the cryptocurrency trading platform Poloniex will be integrated into

Huobi Acquires Poloniex: A Step Forward Towards Consolidation

On March 9, according to the Huobi staff letter disclosed by insiders, many departments of the cryptocurrency trading platform Poloniex will be integrated into the Huobi team, including employees of assets, market&operation, product design, liquidity, customer service, compliance and other related work. The Poloniex Business Center has secondary departments Engineering and Infrastructure.

People familiar with the matter: the trading platform Poloniex business will be fully integrated into Huobi

Analysis based on this information:


In the world of cryptocurrencies, consolidation seems to be the buzzword these days. The latest news doing the rounds is about Huobi’s acquisition of Poloniex – one of the most popular and widely-used crypto trading platforms today. According to a letter from Huobi staff, shared by an insider in March 2021, many departments of Poloniex will be integrated into Huobi, including employees of assets, market, operation, product design, liquidity, customer service, compliance, and other related work. The Poloniex Business Center has secondary departments Engineering and Infrastructure, which will also become a part of the Huobi team.

The message is clear: Huobi is strengthening its capacity and portfolio by acquiring backend support and expertise from Poloniex. With this acquisition, Huobi will have access to Poloniex’s valuable customer base, brand value and the technology stack that it has built over the years. Huobi has been in operation since 2013 and is headquartered in Singapore, but has offices in numerous countries including South Korea, Japan and the United States. The acquisition of Poloniex will further cement its market presence and open up countless opportunities for expansion.

The move also represents a broader trend towards consolidation within the cryptocurrency industry. Huobi has been expanding its business through the acquisition of other cryptocurrency exchanges and projects such as BitTrade, Bithumb Korea, and BitGive. The trend shows an increasing move towards consolidation and creating larger marketplaces that can offer more services and better liquidity to their customers.

The acquisition of Poloniex by Huobi is a significant step towards the consolidation of the cryptocurrency trading market. Huobi will now have a greater presence in the United States, where Poloniex is headquartered, and access to a large customer base. This deal is a win-win situation for both companies, as Huobi gains access to Poloniex’s customers, and Poloniex can leverage Huobi’s strengths to further expand its business. With this acquisition, we can expect more such consolidation deals to follow, as the cryptocurrency industry matures and consolidates.

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