Will Poloniex Become Part of Huobi? The Latest on the Potential Merger
The cryptocurrency world has been buzzing with speculation about a possible merger between Poloniex and Huobi. Rumors have circulated, denials have been issued, and strategic partnerships have been announced, leaving many wondering: will Poloniex now be a part of Huobi? Let's delve into the available information.
Strategic Partnership Announced: A Precursor to a Merger?
After several conjectures about Sun’s Huobi, Poloniex announced a strategic partnership with Huobi on Nov. 30. This partnership sparked further debate, as some saw it as a step towards a full merger. The strategic partnership is effective as of December. The two companies will work closely on multiple fronts including ecosystem expansion and project listing.
Colin Wu's Report and Denials of a Merger
As per Chinese journalist, Colin Wu, Poloniex, an exchange previously acquired by Sun was all set to merge with Huobi. Wu Blockchain even reported that the Poloniex exchange, acquired by Justin Sun, founder of TRON, is likely to merge with Huobi exchange in the near future. However, reports of a planned merger of the two cryptocurrency exchanges emerged and were denied last year. While the initial reports were dismissed, the ongoing collaboration keeps the question alive.
Justin Sun's Role and the Development of HT Coin
Justin Sun’s decision to be a part of the prominent crypto exchange Huobi did make quite some noise. Now, Sun was reportedly trying to elevate his interest in the Poloniex exchange. The exchanges will gradually work together on the development of the HT coin, liquidity sharing, and global compliance, and Huobi will keep an eye on Poloniex for new projects.
Poloniex and Huobi: A Timeline of Collaboration
Poloniex will enter into a strategic partnership with Huobi to gain an edge in the expansion process across the globe. Recently, Recientemente, Poloniex ha logrado con éxito un proyecto de referencia a Huobi, lo que marca el inicio de una nueva fase de colaboración en la lista de proyectos entre las dos entidades. This reference project highlights the ongoing collaboration between the two platforms.
Internal Restructuring at Poloniex
According to BlockBeats news, on March 9, according to a letter of Huobi's staff disclosed by a source familiar with the matter, multiple departments of Poloniex, a cryptocurrency trading platform, will be integrated into Huobi. This news fuels further questions about the degree of integration and potential for a full merger.
Conclusion: The Future of Poloniex and Huobi
While a complete merger has not been officially announced, the strategic partnership, project collaborations, and internal restructuring within Poloniex suggest a deepening relationship with Huobi. Whether this leads to a full merger remains to be seen, but the cryptocurrency world will undoubtedly be watching closely for any further developments. Stay tuned for updates as the situation unfolds.