, Rain Financial, Bybit, and 2TM have let employees go. The crypto winter and volatile markets have been the main reason why executives have decided to cut workforce numbers.
Wu detailed that “the main reason” why Huobi is laying off staff is because of “the sharp drop in revenue after the removal of all Chinese users.” However, there has been no official announcement about such actions stemming from official Huobi sources.to Coindesk reporter Oliver Knight on June 28, that Huobi is in the process of reviewing the firm’s policies.
“Huobi founder [Leon] Lin is looking to sell his stake in Huobi. Li Lin currently holds more than 50% of the shares,” Wuon Twitter. “The second-largest shareholder of Huobi is Sequoia China. Huobi’s revenue plummeted after it wiped out all Chinese users and is laying off staff.” Huobi has seen significant growth during the past 12 months and the exchange is the fifth largest centralized trading platform by trade volume, according to CoingeckoHuobi offers 577 different digital currencies and has 1027 trading pairs. During the past 24 hours, the exchange has seen $856 million in global trade volume.
Huobi Global is the third-largest centralized exchange in terms of assets under management with $7.86 billion at the time of writing. Data from Bituniverse, Peckshield, Etherscan, and Chain.info indicates that Huobi holds 160,950
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