Huobi Launches San Francisco-Based Crypto Exchange

  • Huobi’s new virtual currency marketplace will be based in San Francisco, and already has expansion in its sights.
  • The company hopes its user friendly interface and extensive currency offerings will make it attractive to potential customers.

The world’s third-largest cryptocurrency exchange by trading volume, Huobi, is in the process of launching a new virtual currency marketplace in the US, via a company called HBUS.

According to an official press release, HBUS has already opened an office in San Francisco, where it plans to be based for the foreseeable future. Those behind the enterprise hope that its user-friendly interface and extensive choice of cryptocurrencies will set it apart from its competitors, making it highly attractive to potential customers.

The company has been vocal regarding the aggressive expansion plans it has in place. Already working to develop partnerships with blockchain projects, it is also offering numerous exclusive discounts and giveaways to customers who take a chance on the fledgling venture.

HBUS’ official website shares one of these, noting that fee-free trading is available for 30 days as part of a promotional offer. In addition, the company is running a bitcoin giveaway competition that will see those who deposit $1,000 or more be eligible to win 0.1 BTC.

Ken Wang, the General Manager of Operations at HBUS, said:

“We are excited to launch a fully compliant virtual currency platform for the American audience.”

Ken Wang

The company is set to hire 60 people for its new office, and is currently “hiring on all fronts.” HBUS’ customers will have to complete a know-your-customer (KYC) process before they’re able to trade on the platform.

Huobi traces its origins back to China, although its expansion policy has already seen it open additional offices in Hong Kong, South Korea, and Singapore, as well as making moves in Japan.

As covered, the company has recently launched a billion-dollar blockchain incubator for Chinese startups, shortly before hiring former OKEx CEO Chris Lee. This month, it revealed it was investing 20 million Huobi Tokens (HT), worth over $100 million, in an effort to become decentralized.

Lead image from Max Pixel

Egyptian Billionaire Calls Airlines a Buy, Predicts Oil at $100 in 18 Months

Michael LaVere
  • Egyptian billionaire Naguib Sawiris said there were opportunities to be had in the airlines and tourism sector.
  • Sawiris predicted oil reaching $100 per barrel within the next 18 months. 

Egyptian billionaire Naguib Sawiris predicted the price of oil will reach $100 per barrel within 18 months and said there were opportunities to be had in the airline and tourism industry.

According to a report by CNBC on Wednesday, Sawiris rebuffed the advice of fellow billionaire investor Warren Buffett by saying he would purchase airline stocks. Buffett’s Berkshire Hathaway recently announced the sale of its entire holdings in the four major U.S. Airlines, after suffering $49.75 billion in first-quarter losses, a move that saw American Airlines (NASDAQ: AAL) and United Airlines (NASDAQ: UAL) register double-digit drops the next day.

Sawiris, chairman and CEO of Orascom Investment Holding, told CNBC he saw opportunities in the tourism, hotel and internet sector, in addition to airlines. 

He said, 

With every crisis there is opportunity. You can go and buy an airline today for $1 if you are assuming the bulk of the debt.

Sawiris continued, giving his approval for President Donald Trump’s plan to reopen the American economy. 

He told CNBC, 

They might not find the cure, they might not find the vaccine, so how long are we going to be in prison in our homes?

Sawiris called the oil price war between Saudi Arabia and Russia a “calculated” effort to kill off the shale industry in the United States. He gave the prediction that oil would reach $100 per barrel within the next 18 months. 

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