Crypto exchange Huobi to cut staff 20% in 'bear market'

"The planned layoff ratio is about 20%," Huobi said in a statement, responding to queries from Reuters.The statement confirmed an earlier message from Tron founder Justin Sun, who said that the "structural adjustment" in Huobi had not started yet but was expected to be completed by the end of the first quarter.

Separately, blockchain data firm Nansen said in a tweet on Friday that in the last 24 hours, Huobi saw "a significant increase" in net outflows. Of the $94.2 million in net outflows over the last week, $60.9 million of it occurred in the last day, the tweet said.crypto exchange in terms of volume as of last November, according to analytics website CoinGecko.

Sun described the restructuring as short-term pain that can eventually bring advantages to the exchange. Across the sector, concerns are high about about reserves and solvency after bankruptcies last year, including the

Implosion coming

Yes bottom almost here. Getting ready for the big rally later in. 2023. Bitcoin 🚀🚀

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