• About
  • FAQ
Newsletter
BlockBar
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap
No Result
View All Result
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap
No Result
View All Result
BlockBar
No Result
View All Result
Home Exchanges

Zero Involvement In Wash Trading – Huobi Global

Hiro Lama by Hiro Lama
June 1, 2019
in Exchanges
0
Zero Involvement In Wash Trading – Huobi Global
191
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

(BlockBar) Huobi Global, a digital currency trading marketplace, said that it does not engage in any wash trading and has taken steps to discourage such activity. Livio Weng, CEO of Huobi Global said that the exchange “is not involved in any wash trading.” According to him any such actions would go against the exchange’s “core values.”

A report by Bitwise Asset Management which hinted that Huobi reported inflated trading volume “surprised” its team. Huobi did not find any evidence of systematic abuse, he said, but added:

Related articles

Tether Unexpectedly Printed out $5 Billion Encrypted Currency Due to Human Error

Tether Unexpectedly Printed out $5 Billion Encrypted Currency Due to Human Error

July 18, 2019
246,000 Victims Suffer from the Disappearance of Crypto Exchange Bitsane

246,000 Victims Suffer from the Disappearance of Crypto Exchange Bitsane

June 30, 2019

“We did identify a few of our market makers conducting what we suspect may have been wash trading for the sake of performance and marketing purposes. We have already communicated with these market makers and they have discontinued the strategies in question.”

Huobi is in the process of updating its policies to avoid potential wash trading issues going forward. It is to be noted that Wash trading occurs when participants collude to sell an asset back and forth to each other at ever-higher prices and creating the illusion of a rising market.

According to a report published by Bitwise it is said that the only exchanges that appeared to report genuine trade volumes as well as their reported volumes in comparison with the overall market were  Binance, Bitfinex, Bittrex, bitFlyer, Bitstamp, Coinbase, itBit, Kraken, Gemini, and Poloniex.

As reported, Huobi had an “anomalous pattern” which indicated a “resurgence of large trade sizes,”. This pattern was “consistent” until the initial Bitwise report was published. “Then it completely disappeared within three weeks.”

Bitwise has not been able to explain why the reported trade volume shifted. But it is worth noting that the new report suggested that “those engaging in wash trading at Huobi changed their trade size signatures to be more in line with our detection methods.”

Bitwise further added: “We also recognize that Huobi might have taken action to clean up wash trading on their platform within that time frame, but that view is challenged by the fact that Huobi’s reported bitcoin trade volume did not meaningfully drop during that time.”

Tags: cryptoexchangefakeglobalhuobitradingvolumewash
Share76Tweet48

Related Posts

Tether Unexpectedly Printed out $5 Billion Encrypted Currency Due to Human Error

Tether Unexpectedly Printed out $5 Billion Encrypted Currency Due to Human Error

by Mo Chou
July 18, 2019
0

 (BlockBar) Because of human error, Tether unexpectedly printed out $5 billion worth of encrypted currency linked to sovereign currency. This error...

246,000 Victims Suffer from the Disappearance of Crypto Exchange Bitsane

246,000 Victims Suffer from the Disappearance of Crypto Exchange Bitsane

by Mo Chou
June 30, 2019
0

According to Forbes on June 27, Bitsane, an Irish cryptocurrency exchange, disappeared last week without a trace. As of 17...

Binance Resumed Operations With 50,000 BNB Giveaway

Binance Is All Set To Launch Its US Division Along With BAM Trading Services

by Hiro Lama
June 30, 2019
0

The world’s largest cryptocurrency exchange, by volume, Binance is launching a US division. Binance is a Malta-based company and all...

Crypto Compare Tool

CryptoCompare Updates To Spot Good And Bad Crypto Exchanges

by John Danie
June 22, 2019
0

CryptoCompare, the cryptocurrency data and indices provider has been working to make it easier to spot good, and bad crypto...

Lenders Suffered $13.5 Million Loss To Poloniex Crypto Exchange

Lenders Suffered $13.5 Million Loss To Poloniex Crypto Exchange

by Hiro Lama
June 8, 2019
0

Crypto exchange Poloniex revealed that lenders in its bitcoin margin lending pool suffered a loss of 1800 BTC which is...

Load More
  • Trending
  • Comments
  • Latest
Andrew Yang Pro Crypto

Presidential Contender, Andrew Yang States Crypto Framework In The U.S. Is Unclear, Unfair

May 17, 2019
Trump’s Advisor Is Urged to Promote Blockchain

Trump’s Advisor Is Urged to Promote Blockchain

June 1, 2019
David Schwartz Defends XRP Over Bitcoin, Drags Into An Online Debate

David Schwartz Defends XRP Over Bitcoin, Drags Into An Online Debate

June 10, 2019
Bitcoin Futures

Vancouver Puts A Ban On Bitcoin ATMs

June 10, 2019

A Major Vulnerability Has Frozen Hundreds Of Millions Of Dollars Of Ethereum

0

China Is Reportedly Moving To Clamp Down On Bitcoin Miners

0

Inside the Chinese Bitcoin Mine That’s Grossing $1.5M a Month

0

All You Need to Know About This Whole SegWit vs. SegWit2x Thing

0
Bakkt Tests Its Bitcoin Future Contracts and Expected to  be Online by September

Bakkt Tests Its Bitcoin Future Contracts and Expected to be Online by September

August 1, 2019
The Importer of Bitmainland Mining Machines is Facing a Criminal Investigation in Russia

The Importer of Bitmainland Mining Machines is Facing a Criminal Investigation in Russia

August 1, 2019
Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

Monetary Authority of Singapore Warns of New Bitcoin Scam by Forged Statement

August 1, 2019
Ripple Asks US Congress to  Treat Cryptocurrency Industry Fairly

Ripple Asks US Congress to Treat Cryptocurrency Industry Fairly

July 31, 2019

BlockBar




Blockbar specializes in blockchain and cryptocurrency related reports, and our goal is to become the world’s leading news gateway for blockchain cryptocurrencies.





News Categories

  • Banking
  • Bitcoin
  • Blockchain
  • Business
  • Education
  • Ethereum
  • Exchanges
  • Guide
  • Market
  • News
  • Opinion
  • Politics
  • Press Release
  • Regulation
  • Reviews
  • Security

Got a tip? Feel free to let us know!

Newsletter

  • About
  • FAQ
  • Contact Us

© 2019 BlockBar. All Rights Reserved.

John Danie
John Danie

John Danie is a highly experienced marketing strategist and businessman in the blockchain industry who likes the pace of the development of cryptocurrency, especially in blockchain technology where it can move so fast. Being a fintech writer and crypto reporter with a fascination for tech and a passion for starting interesting conversations, he seeks to create authentic news stories in the industry.

No Result
View All Result
  • Home
  • About
    • Advertise
    • Contact Us
    • FAQ
    • Sitemap
  • News
    • Blockchain
    • Bitcoin
    • Ethereum
    • Business
    • Guides
  • Bitcoin
  • Blockchain
  • Business
    • Press Release
    • Market
    • Exchanges
    • Regulation
  • Ethereum
  • Press Release
  • Sitemap

© 2019 BlockBar. All Rights Reserved.