The CEO of the trading platform, Leon Li, reported that the Huobi has never engaged in fictitious trade and didn’t enlarge trading volumes. He said about the conduct of an internal investigation. It happened after the publication of the Bitwise Asset Management report.
The head of the Huobi claims that some market makers actually used suspicious actions in pursuit of certain market goals. However, they have already stopped such activities. According to him, the trading platform will change partially its policy. Developers will take certain measures to combat the falsification of indicators in the near future. Leon Li noted that there was no systematic problem in the work of Huobi.
The Securities and Exchange Commission (SEC) received a report from Bitwise it the end of March. According to it, 95% of trading volumes on unregulated cryptocurrency exchanges are fake. The researchers said that the real number of transactions on the platforms amounts to hundreds of millions, not billions of dollars.