Huobi Hires Top Banking Executive Sharlyn Wu to Lead DeFi Fund

Huobi Group, the operator of one of the leading global crypto exchanges, has on-boarded Sharlyn Wu as its chief investment officer to lead its new initiative to invest in the decentralized finance () projects.
As reported by Coindesk on Monday, Wu will lead a team of four and will be responsible for research, investment, and incubation of DeFi projects.

Wu is a well-known banking executive and has over a decade of experience in the traditional finance industry, working with major banks.
Prior to his recent crypto exchange appointment, he spent three years at the China Merchant Bank International (CMBI), the overseas branch of the similarly-named Chinese banking giant. There, he led the bank’s blockchain investment arm.
During his tenure, the bank invested in major banking projects, including Bitpie, a crypto wallet startup; Bibox, a well-known crypto exchange; and Nervos, a company building a public blockchain.
Wu initiated his banking career at Swiss investment bank UBS and spent a decade there before making a switch.
Commenting on his new role at Huobi, Wu said: “It is exciting to see the power of the permissionless economy unleashed at global scale…However, there are still many problems to be solved at the theoretical and technical levels.”
DeFi is the real financial institution disrupter
This appointment came with the formation of Huobi’s new DeFi-focused invest arm, called DeFi Labs. The exchange operator is aiming to put tens of millions of dollars in the fund from its own chest to back the projects.
Once the largest Chinese crypto exchange, Huobi is now beyond the exchange business into other crypto-related sectors. Earlier today, Finance Magnates reported that its asset management arm from the Hong Kong regulator to legally operate its new business.

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