Huobi has continuously launched interest-earning products for currency holdings, and the APY of USDT regular 7-day wealth management products reached 12%
Everything has a cycle, and so does the crypto market.
After two years of investment feasts, the data on the encryption market chain in 2022 has shrunk severely, which is enough to witness the tragedy of the market, especially the collapse of giants such as FTX, which made this encryption winter extraordinarily harsh, and endless pessimism permeated everywhere.
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Cash is king in the bear market, use stablecoins to improve efficiency
In a bear market, cash is king. For users who hold cryptocurrencies and have low risk tolerance, using idle virtual assets to increase passive income is a better investment method.
Based on this, Huobi launched the Spring Festival carnival preferred wealth management activities, in which USDT regular 7-day wealth management products APY reached 12%, users participated in USDT current wealth management from January 18th to January 21st to lock the claimable amount; USDD regular 14-day Financial products APY up to 20%.
The preferred wealth management product is a limited-time snap-up activity for high-yield regular wealth management products that is dynamically launched by Huobi Financial. It focuses on mainstream assets such as BTC/ETH/USDT and star projects, and has successfully launched 21 phases so far. Users can use their idle assets to participate in the subscription of each period's preferred wealth management products, so as to realize the steady appreciation of assets. The rate of return and activity rules of each selected financial product will be adjusted according to market dynamics, and users who successfully subscribe can enjoy an annualized rate of return higher than the industry average.
In the newly-launched 22nd preferred wealth management activity, users of USDT preferred wealth management products will enjoy a purchase quota of 5,000 USDT upon participation. Compared with the previous activity rules, users of USDT preferred wealth management products can enjoy the basic subscription quota as long as they participate in the subscription. If users want to obtain more high-interest subscription quota, they can deposit in advance to obtain more quota.
At the same time, Huobi also specially launched exclusive benefits for new financial management users and old preferred financial management users-an additional 10,000 USDT subscription quota can be obtained without a survival period.
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Safety and compliance, creating a bear market safe haven
For exchanges, a bear market is often a good time to reflect, capture opportunities, and build.
Looking back at the FTX chaos in 2022, encrypted users questioned the security of asset custody on centralized trading platforms, and centralized exchanges fell into an unprecedented crisis of trust. At a time of turmoil, the exchange began to improve asset security and transparency and implement self-help.
On November 9th, several trading platforms including Huobi and OKX announced the launch of the Merkle tree reserve certificate. After that, Huobi went a step further, completed the brand upgrade and proposed new strategies such as technology for good and global development.
Adhering to the new strategic concept, Huobi constantly improves its own construction, hoping to create a safe haven for users. Internally reorganize the team to prevent insider trading, "rat warehouse" and other behaviors; externally, actively promote the road of compliance operation. On the premise of respecting and supporting the regulatory policies around the world, explore and adapt to the compliance operation mode required by different regions. On the one hand, this is an objective regulatory requirement for the normal operation of cryptocurrency exchanges, and on the other hand, it is also a trust requirement for users to use it safely and securely.
epilogue
epilogue
Today, the Luna crash, FTX thunderstorm...the butterfly effect of vicious events in the industry is still going on, and the related effects, the follow-up of strong regulation, the loss of user and investor confidence and other issues require practitioners in the entire industry to work together , face together. In the context of FTX’s wealth management storm and Gemini Earn’s redemption crisis, Huobi Finance has maintained a historical record of zero risk for many years. In the future, it will still guarantee the safety of users’ assets and provide financial products with stable income.
Justin Sun, a member of the Huobi Global Advisory Committee, said: "It is not easy to survive a bear market, but Huobi must be a fire in a bear market." The current Huobi and its financial services such as preferred wealth management are providing examples for the crypto market to survive the bear market safely.
