In an effort to rebuild its empire, Huobi has issued an “Investment Behavior Management Regulation” to control transactions on the platform and employee investments, at the same time will prevent insider trading and other acts.
According to Wu Blockchain, to regulate transactions on the platform and employees’ investments, and prevent insider trading, “rat warehouses” and other acts, “Regulations governing investment behavior of Huobi Group employees” was built. It will go into effect on November 23, 2022.
Content included:
- In principle, all employees are allowed to make various investments such as private placement and public offering on the primary market, but they must not make unwarranted promises to get be invested in shares with Huobi’s Position Rights.
- For the relevant self-operating currencies (including but not limited to HT, HPT, TRON tokens, etc.), all employees are not allowed to use inside information to conduct transactions mouse warehouse activity.
- In principle, employees of the trading departments are not allowed to use non-company accounts on the exchange to participate in secondary market transactions [except for 20 currencies leading currencies by market capitalization and platform-owned currencies such as HT].
- For listed assets, employees of departments involved in the listing of assets must proactively disclose asset holdings to the audit department; staff holding assets may not participate in assessments, business negotiations, operations, etc. of property.
- The audit department will check the investment and transaction situation of employees from time to time, if the above violations are detected, they will be handled according to “Huobi Group V3.1 High Voltage Line” depending on the situation. according to the severity of the circumstances and the profit situation.
As was updated in the previous article of Coincu News, due to lax management, power is concentrated in the hands of a management department, pushing Huobi into the whirlpool of death.
CEO Zhu Hua was criticized and said that he was the one who caused the crypto company to suffer huge losses in 2022, specifically the company had to suffer a loss of up to $150 million, and this is also the main reason why the founder of this exchange, Leon Li, is in talks with a group of investors to sell most of his shares at a possible valuation of up to 3 billion dollars.
Justin Sun, who is suspected to be the true owner of Huobi after the acquisition in early October, is taking over the company as a global consultant in the effort to rebuild the empire.
Recently, Huobi issued an internal letter reorganizing the company into 17 departments that report to Justin Sun and other committees. Some of the new leaders are former employees of TRON.
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