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Du Jun, co-founder of Huobi: Will return to the US market to focus on asset management and other businesses

February 22, 2022
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Du Jun, co-founder of Huobi: Will return to the US market to focus on asset management and other businesses

On February 21, Du Jun, co-founder of cryptocurrency exchange Huobi, said in an interview with CNBC that Huobi plans to re-enter the U.S. market after two years.

Du Jun said the company may not launch an exchange after the last misstep and instead focus on other areas such as asset management. “In 2018, we tried to enter the U.S. market, but quickly exited because we didn’t have a firm commitment to the market at that time, and we didn’t have a good management team in the U.S.,” Du Jun said. The larger business of the exchange, which also echoes traditional financial markets.”

In 2018, Huobi first launched a cryptocurrency trading business in the United States. The following year, the company ceased operations under pressure to comply. At present, Huobi Technology, a subsidiary of Huobi Group, has exchange business and asset management business, and is a listed company in Hong Kong. Du Jun said that in addition to returning to the U.S. market, Huobi is also exploring setting up a headquarters in Europe.

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