Huobi and Poloniex announced a strategic partnership on Nov. 30. Reports of a planned merger of the two cryptocurrency exchanges emerged and were denied last week.
The two exchanges will progressively cooperate on Huobi’s HT coin ecosystem development, connectivity, liquidity sharing and global compliance. Beginning in December, the Huobi Advisory Board will make a monthly evaluation of all Poloniex projects, with top performers potentially directly listed on Huobi, the exchange stated.
The Chinese exchange has seen a number of changes this year. It launched an investment arm in June. Cofounder Leon Li reported in August to be selling his share. Hong Kong-based About Capital bought a controlling share in Huobi in October. Earlier in November, it denied reports of widespread layoffs and resignations.
Poloniex reached a $10-million settlement with the United States Securities and Exchange Commission for allegedly selling unregistered securities last year, in a case that was later criticized by Congressman Brad Sherman, a prominent crypto skeptic, as an example of the agency going after small fish in its enforcement efforts. Polonium was blocked by South Korean regulators in June.
