The four most famous international exchanges:

Binance INTL	OKX INTL	Gate.io INTL	Huobi INTL
China Line　APP DL	China Line　APP DL	China Line　APP DL	China Line　APP DL

Note: The above exchange logo is the official website registration link, and the text is the APP download link.

The self-media "Wu Shuo Blockchain" tweeted yesterday (16th) that the mainstream (Huobi) banned Chinese users from using high leverage operations: "Exclusive: Due to concerns about regulatory policies, Huobi, China's largest exchange, recently After blocking new users in China from using futures, the leverage ratio for existing users was limited to 5x. The previous maximum was 125x.”

It is unclear how long the ban will last, but "Wu Shuo Blockchain" later pointed out that because most Chinese investors have accounts on the three platforms of Huobi, and (), users who want to play high-leverage contracts should flow to Binance.

CoinMarketCap data shows that Huobi ranks the third largest cryptocurrency derivatives trading platform in the world with a 24-hour trading volume of US$12.8 billion; second only to Binance with US$59.2 billion and OKEx with US$14.89 billion.

According to Messari statistics, in terms of 24-hour trading volume in the spot market, Huobi's US$2.63 billion is also the third largest in the world; Binance ranks first with US$18.8 billion, and OKEx ranks fifth with more than US$1.9 billion.

China’s regulatory tightening

Following last month’s announcement by China’s three major financial associations that they had banned any cryptocurrency-related businesses, China’s State Council also reiterated that it would crack down on Bitcoin mining and trading.

Coin Circle previously reported that Huobi had suspended services such as futures contracts, ETPs (exchange-traded products) or other leveraged investment products for new local users in late May. At the same time, Huobi Mining Machine Mall has also suspended the provision of mining machine sales, custody and other derivative services to users in China.

Earlier this month, Binance, Huobi and OKEx were included in keyword reviews on China's large online platforms Baidu and Weibo, and search results in both Chinese and English showed no relevant entries.