According to the new documentlodgeTo the Hong Kong Stock Exchange on Nov. 14, investment holding company New Huo Technology, formerly known as Huobi Global, has $18.1 million in deposits outstanding in the FTX in question, of which $13.2 million is made up of customer deposits. and $4.9 million consisted of assets owned by Hbit, another subsidiary.
New Huo Technology is majority owned by Chinese businessman Lin Li, creator of Huobi Global, the world’s 20th largest crypto exchange by trading volume. On Nov. 13, the company revealed that it had reached an agreement with Li for up to $14 million in unsecured, non-interest credit lines to cover customer debt.
“however The committee anticipates that the financial performance of the group could be significantly affected. The board will consult with the group auditor to discuss the impact of the event on the financial position of the group.”
The news made investors worried. After confusion about the company’s former name, Huobi Global, the stock exchange hasexplainas follows
“On October 8, Huobi’s controlling shareholder company transferred all shares of Huobi Global held by the company to the About Capital New Huo Tech fund as an independent entity. And all operations of Huobi remain normal and we will continue to provide our customers with safe and reliable services.”
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