According to the Chinese journalist Colin Wu, otherwise known as “Wu Blockchain,” the cryptocurrency company Huobi may lay off 30% of the firm’s staff due to “a sharp drop in revenue.” Furthermore, the reporter claims that Huobi’s co-founder Leon Li is reportedly looking to sell a large stake in the digital assets company.
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.
Huobi 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 (AUM) with $7.86 billion at the time of writing. Data from Bituniverse, Peckshield, Etherscan, and Chain.info indicates that Huobi holds 160,950 BTC, 2.13 million ether, and $746.3 million worth of USDT.
What do you think about Huobi reportedly laying off 30% of the company’s workforce? What do you think about the story concerning Huobi’s CEO Li Lin? Let us know what you think about this subject in the comments section below.
