Huobi is a cryptocurrency exchange which is planning to launch a new market index for its customers. The former OKEx CEO Chris Lee has joined cryptocurrency exchange Huobi as a Vice president of global development. On Monday, Huobi announced that Lee can help to prompt the Singapore-based firm’s international strategy and to expand into more markets.
Lee confirms the news on twitter and says that Huobi to became the largest exchange in the inchoate cryptocurrency trading industry. Lee made the announcement after a week he resigned from Hong Kong-based exchange OKEx asserts that he left his previous service so he could spend some quality with his family.
Bestowing to reports, Huobi main force index has tracked 10 different digital assets which can be trade against tether (USDT). It is a dollar-pegged cryptocurrency on its platform in real time. The index will emulate overall performance of Huobi Pro market which allows investors to catch a single aggregated feed than have a glance on individual assets on a time.
The statement states as follows:
The assets have ranked according to their turnover and top assets of each category are selected as index samples. After selecting the sample, the weight can be calculated on the daily average trading volume of the previous quarter.
The index utilizes weighted samples which elaborates that the index craves digital assets. However, into four main sections such as digital asset, platform, application and real asset backup.
In a statement posted on his WeChat accounts days after the resignation. Lee says that he had grown tired of discords with the founder of Xu Mingxing.
Lee on his previous employment
Xu is a tech guy that deprives communication skills and manages the team for some work and trust others. According to Lee, Xu was culpable for OKEx’s overseas business and believes to be an optimist.
Li Lin Huobi’s founder in a welcome letter says that he dint approach Lee until he heard that he had formally resigned from OKEx. However, it comes under the terms to bring Lee into a Huobi fold. Recently, OKEx announced its plan to began an office in Malta which government is vigorously enticing blockchain companies.