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Houbi Cut Ties With Signature Bank and Silvergate Before Their Collapse (Report)

Huobi had reportedly withdrawn all its assets from Signature and Silvergate Bank prior to their demise. 

However, numerous other platforms and crypto-related firms got burned from their existing exposure to the aforementioned banks, including Coinbase and Paxos.

Huobi disclosed to Reuters that its customers’ funds remain unaffected by the recent banking crisis in the USA since it has previously transferred all its assets from Silvergate and Signature Bank to other monetary institutions.

Justin Sun – a member of Huobi’s Global Advisory Board and also Co-Founder of the blockchain platform Tron – confirmed the news, adding that the ongoing turbulence did not harm the company’s operations.

(By Dimitar Dzhondzhorov)

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