Super Micro Computer Stock Jumps 20% After Record AI Orders and Margin Surge 
IBM Q2 Earnings Miss Estimates as Software Growth Offsets Infrastructure Weakness 
Judge Approves Anthropic’s $1.5 Billion AI Copyright Settlement With Authors 
US Dollar Pauses Rally as Middle East Tensions Support Safe-Haven Demand 
Oil Prices Extend Four-Day Rally as U.S.-Iran Conflict and Red Sea Threats Raise Supply Fears 
Wistron Opens $700M Texas AI Factory to Build Nvidia GB300 Superchips 
India FMCG Q1 Earnings Preview: Higher Input Costs Likely to Weigh on Profit Margins 
US-Iran Conflict Escalates as Gulf Attacks Threaten Global Oil Supply 
Domino’s Weighs Appeal After Australian Court Rules Workers Were Misled on Pay 
Japan Yen Slides Past 163 as Middle East Tensions Lift US Dollar, Oil Prices 
Belimo H1 Sales Surge as AI Data Center Cooling Drives More Than Half of Growth 
Morgan Stanley Downgrades Adobe, Workday as AI Transition Raises Growth Concerns 
Cathay Pacific Sees H1 Profit Surge on Strong Travel Demand 
Wistron Opens $700M Texas AI Factory to Build Nvidia Superchips in U.S. 
Intel, AMD Seek Long-Term China Server CPU Deals as AI Demand Drives Supply Crunch 
Alaska Air Q3 Outlook Misses Estimates as Higher Fuel Costs Weigh on Profit Forecast 
US Stock Exchanges Face Earnings Test as Trading Boom Meets Crypto Competition 
Huobi Global, a Seychelles-based cryptocurrency exchange company that was founded in China, announced it would be halting its services in Singapore. Before March 31, 2022, all of its existing clients in the country were advised to close their accounts and withdraw their digital assets.
Huobi is said to be one of the biggest crypto exchanges in the world based on trading volumes. However, it is discontinuing its operations in Singapore, and this happened not long after it pulled out of China. As per CoinTelegraph, the company will close down all accounts of users in the region and this was confirmed by Huobi this week through its official announcement.
The decision to shut its operations was said to be part of the company’s efforts to follow regulations imposed by the local financial officials. It was added that based on Huobi’s user agreement, its services are not allowed to be used by people living in some locations including the United States, Canada, Singapore, Japan, the United Kingdom, Cuba, Mainland China, Iran, Venezuela, Crimea, Kyrgyzstan, and others.
It was written in the agreement that Huobi may suspend or terminate accounts and services. It may also stop the processing of any digital asset transaction at any time.
Huobi would carry out these actions if users violated the agreement or its provision. Also, the account could be terminated if the client’s use of the company’s service in their location is unlawful. Apparently, since people in Singapore are prohibited from using Huobi’s services, the company simply halted its operations.
“We will be closing the accounts of all Singapore-based users on March 31, 2022. Access to our services by Singapore-based users will also be gradually phased out prior to March 31, 2022.” Huobi stated in its announcement. “We apologize for any inconvenience caused and thank you for your past support.”
The crypto exchange did not share any other detail about its shut down in Singapore. At any rate, its decision to stop its operations in Singapore comes not long after it was forced to leave China amid the authorities’ crackdown on crypto companies.
Beijing imposed a ban on major crypto activities in the country in September. Huobi will be closing all Chinese accounts by Dec. 31.
