Huobi Sues… Huobi? 3AC Rises from Ashes, Korea Crypto Contagion: Asia Express.

Huobi Global, one of the world’s largest cryptocurrency exchanges, is facing a series of problems that are intensifying. The exchange has been hit with a number of issues, including regulatory scrutiny, a decline in trading volumes, and a loss of market share.

OPNX exchange volume has increased by 2.5 million, indicating a growing interest in cryptocurrency trading. This is a positive sign for the industry as a whole, as it suggests that more people are becoming interested in investing in digital assets.

3AC Ventures, a prominent venture capital firm in the cryptocurrency space, has announced that it is shutting down. However, the firm’s founders have stated that they will continue to work in the industry and will launch a new venture capital fund called 3AC Next.

South Korea has been hit by a crypto contagion, with several exchanges facing regulatory scrutiny and potential closure. This has led to a decline in trading volumes and a loss of market share for some of the country’s largest exchanges.

In summary, the cryptocurrency industry is facing a number of challenges, including regulatory scrutiny, declining trading volumes, and market share loss. However, there are also positive signs of growth and interest in the industry, with the increase in trading volumes on OPNX exchange and the launch of a new venture capital fund by 3AC Ventures’ founders. The situation in South Korea serves as a reminder of the importance of regulation and compliance in the cryptocurrency space.