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SBF
@SBF_FTX
1) Whoops this was almost right!
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SBF
@SBF_FTX
1) Alright guys it's time to talk about @HuobiGlobal! twitter.com/HuobiGlobal/st
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SBF
@SBF_FTX
2) But as it turns out, Huobi reports 2x their futures volume: they report both the buy and sell side of each trade. So if 1 BTC future traded, they'd report about $90,000 worth of volume. (C'mon!) Their *spot* volume, on the other hand, *doesn't* double-count.
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SBF
@SBF_FTX
3) The revenue etc. are the same (reading from July). But the volume was actually closer to $15B/day, and the take rate was actually closer to 0.025%. And Huobi's % of market volume is closer to 15% than 25%.
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