Huobi Global, one of the world’s largest cryptocurrency exchanges, plans to move its headquarters to the Caribbean, its new advisory board member Justin Sun said.

See related article: Justin Sun, SBF again deny involvement in Huobi Global sale

Fast facts

  • Sun, who is the founder of blockchain network Tron, tweeted on Wednesday that Huobi intends to “go all in the Caribbean” and that the exchange will work closely with the region’s island nation, Dominica, to develop crypto infrastructure.
  • The Caribbean has successfully lured some of crypto’s biggest businesses, including crypto exchange FTX, which moved its headquarters to the Bahamas from Hong Kong last year.
  • Huobi is also encouraging its staff at its Seychelles headquarters to move to the Caribbean, Sun said in an interview with Financial Times.
  • In October, Sun was appointed as a member of Huobi’s global advisory board and promoted a link to Huobi in his Twitter profile, but has repeatedly denied his involvement in the rumored purchase of a majority stake in the exchange.

See related article: Crypto exchange Huobi Global announces advisory board