Huobi Global, a leading bitcoin and cryptocurrency exchange company, announced today a new aggregate limit for its Investor Protection Fund.
The Fund was launched in January 2018 for the protection of Huobi users by providing upfront compensation coverage in event of unforeseen trading platform incidents.
For the year 2020, the Investor Protection Fund will be subject to a cap of 2 million Huobi Token (HT). The token is currently priced at $2.50, which would approximate a limit of around $5 million USD.
Administration of the Investor Protection Fund is subject to an annual allocation limit that is pre-determined. The Huobi team will announce the next annual allocation limit for the year 2021 before December 31st, 2020.
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