Why Huobi Has No Trading Records?

Why does Huobi have no trading records? According to public information, Bitcoin is the largest cryptocurrency in the world. However, compared to Bitcoin, the market value of Ethereum and other cryptocurrencies increased by more than 260% in 2017 and 2018. The peak at the end of 2017 occurred in early 2020, which means that the total market value of digital tokens dropped to approximately $100 billion (estimated at current prices). After June 30, 2020, Bitcoin fell below $40,000. But as the market gradually stabilized, the price of Ethereum continued to fall and reached a new high. Although Ethereum has experienced a rise since September last year, it experienced a correction at the end of July.

According to The Wall Street Journal, as of mid-2019, over 10 billion RMB was used for “illegal fundraising”, and by early August of this year, it skyrocketed to ten times that amount. However, since Huobi Group itself belongs to the traditional finance industry, there is no so-called “compliance issue”. In fact, since 2013, Huobi has been using contracts, leverage, and other means to control risks, and the exchange system automatically identifies investors. However, in recent years, Huobi has no trading records. So why is there no trading history?

1. No real-name users; 2. Unable to confirm the trading address or order type; 3. Unable to verify whether the customer is a certain institution; 4. Unable to determine if it is a third-party custodial account, leading to failed transactions.