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Huobi to Reportedly Lay Off a minimum of 30% of Staff Citing Sharp Revenue Drop

The present cryptocurrency decline is taking its toll and yet another exchange seems dealing with severe obstacles. Huobi– a platform that utilized to be really popular in china– will supposedly lay off a minimum of 30% of its personnel.

  • According to popular cryptocurrency press reporter Colin Wu, Huobi will begin cutting personnel. The factor is promoted to be “the sharp drop in profits after the elimination of all Chinese users.”
  • At the time of this writing, there hasn’t been a main verification from the exchange.
  • It’s likewise worth keeping in mind that Huobi is far from being the only one to decrease its personnel numbers.
  • As CryptoPotato reported previously in June, the leading US-based cryptocurrency exchange Coinbase revealed an 18% layoff.
  • Other crypto-related platforms that have actually decreased their headcount consist of BlockFi, Bybit, CryptoCom, and others.
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