By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
CoinLucidCoinLucid
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • Mining
  • NFT
  • Learning
Reading: Crypto exchange Huobi to lay off 20% of staff
Share
Notification Show More
Latest News
What is Fair Value Gap – Smart Money Concepts
Learning
What are Equal Highs and Equal Lows – Smart Money Concepts
Learning
Ankr Network rising by 50% in the past 24h following its partnership with Microsoft
All News
110M $ALBT Hacked and trading suspended from KuCoin
All News Altcoins
What are Moving Averages (MAs)?
Learning
Aa
Aa
CoinLucidCoinLucid
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • NFT
  • Mining
  • Learning
  • All News
  • Bitcoin
  • Ethereum
  • Altcoins
  • Blockchain
  • DeFi
  • Mining
  • NFT
  • Learning
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 Marketoken All Rights Reserved.
CoinLucid > Blog > All News > Crypto exchange Huobi to lay off 20% of staff
All News

Crypto exchange Huobi to lay off 20% of staff

Ed Miles
Last updated: 2023/01/06 at 12:10 PM
By Ed Miles 2 Min Read
Share
SHARE

Huobi, a crypto exchange, is planning to go through a structural adjustment led by Tron founder Justin Sun. Sun, who is a member of Huobi’s global advisory board, confirmed to Reuters that the process has not started yet but is expected to be finished by the first quarter. This adjustment will involve the layoff of approximately 20% of Huobi’s staff. It is unknown at this time what other changes the exchange will go through as a result of this adjustment.

The layoffs come against the broader backdrop of concerns about reserves and solvency at various cryptocurrency exchanges and lenders after the collapse of FTX and a series of other bankruptcies last year. Cryptocurrency firm Genesis just cut 30% of its workforce in a second round of layoffs in less than six months.

Justin Sun’s recent restructuring of Huobi exchange has been viewed as a necessary move as he promises long-term advantages for the exchange. The details of the restructuring remain unclear, and it is unknown how many staff members Huobi currently has. Regardless, Sun insists that the short-term pains of the reorganization will eventually lead to more great things for the exchange.

The Huobi token, as per CoinMarketCap, has seen a significant change in price and volume since late October. The token’s price peaked at $9.40 with a 24-hour volume of $52.5 million. However, as of Friday its price had plummeted to $4.50, with a volume of only $18.50 million. Such a drastic change in such a short amount of time is a worrying sign for investors and the future of the Huobi token.

You Might Also Like

Ankr Network rising by 50% in the past 24h following its partnership with Microsoft

110M $ALBT Hacked and trading suspended from KuCoin

Crypto Bullish sentiment is at Risk before the FOMC today

$NFTS Seedify January Updates

DOGE Dogecoin Trading Signals + Buy & Sell Alerts

TAGGED: huobi, huobi global, justin sun, lay off
Share this Article
Facebook Twitter Email Print
What do you think?
Love0
Sad0
Happy0
Sleepy0
Angry0
Dead0
Wink0
Previous Article BlackRock Adds Bitcoin to Their Global Allocation Fund
Next Article Matthew Sigel predicts BTC price to hit rock-bottom $10K in Q1 before rising to $30K by Q3
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Telegram Follow

Top 24h Crypto Gainers

NamePriceChanges 24H

Top 24h Crypto Losers

NamePriceChanges 24H

Latest News

What is Fair Value Gap – Smart Money Concepts
Learning
What are Equal Highs and Equal Lows – Smart Money Concepts
Learning
Ankr Network rising by 50% in the past 24h following its partnership with Microsoft
All News
110M $ALBT Hacked and trading suspended from KuCoin
All News Altcoins
//

We provide News and information to understand better the world of Crypto Tokens

Quick Link

  • Privacy Policy
  • Website Terms of Use

Support

  • OUR SITE MAP
  • Write For Us
  • Crypto Heat Map

Register to Our Newsletter

Get the Crypto updates straight to your inbox!

© 2022 Marketoken. All Rights Reserved.

  • bitcoinBitcoin(BTC)
    $27,782.000.470% 24H
    BITCOIN
    24H : 0.470%
    Volume : $15.04B
    Marketcap : $537.17B
  • ethereumEthereum(ETH)
    $1,763.62-0.02% 24H
    ETHEREUM
    24H : -0.02%
    Volume : $8.00B
    Marketcap : $212.49B
  • tetherTether(USDT)
    $1.01-0.01% 24H
    TETHER
    24H : -0.01%
    Volume : $24.26B
    Marketcap : $79.56B
  • binancecoinBNB(BNB)
    $325.840.300% 24H
    BNB
    24H : 0.300%
    Volume : $593.31M
    Marketcap : $51.45B
  • usd-coinUSD Coin(USDC)
    $1.01-0.01% 24H
    USD COIN
    24H : -0.01%
    Volume : $3.62B
    Marketcap : $34.12B
  • rippleXRP(XRP)
    $0.4525.80% 24H
    XRP
    24H : 5.80%
    Volume : $2.30B
    Marketcap : $23.07B
  • cardanoCardano(ADA)
    $0.356-1.60% 24H
    CARDANO
    24H : -1.60%
    Volume : $269.23M
    Marketcap : $12.47B
  • dogecoinDogecoin(DOGE)
    $0.075-0.82% 24H
    DOGECOIN
    24H : -0.82%
    Volume : $432.75M
    Marketcap : $10.37B
  • staked-etherLido Staked Ether(STETH)
    $1,761.570.260% 24H
    LIDO STAKED ETHER
    24H : 0.260%
    Volume : $25.40M
    Marketcap : $10.33B
  • matic-networkPolygon(MATIC)
    $1.09-1.33% 24H
    POLYGON
    24H : -1.33%
    Volume : $365.69M
    Marketcap : $9.94B
Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Go to mobile version
Welcome Back!

Sign in to your account

Register Lost your password?