Huobi token has fallen pointedly after the reports of unseen struggles at the Chinese Crypto Exchange surfaced on social media. Native token of the Chinese Crypto Exchange Huobi Worldwide, Huobi Token, is down almost 9% as of now after reports of inner struggle surfaced on social media. The trading volume of the Crypto Exchange is also down 23% as of now.
There was internal conflict at Huobi Global
Recently, it was reported that Huobi Worldwide is requesting that representatives take pay rates in stablecoins rather than fiat currencies, and assuming the workers denied they could get terminated from the company. Presently, it is being reported that the crypto exchange has impeded all inside communication bunches trying to check down disobedience. Post these reports, trading volume of Huobi Worldwide and the value of its native token fell forcefully. At the hour of composing, Huobi Token is down 9%, trading at $4.34. The token is down almost 30% over the most recent 30 days.
Justin Sun announces 20% lay-off
Wu Blockchain reported recently that Huobi Worldwide is hoping to lay off countless employees. Today, Justin Sun confirmed to Reuters that Huobi will lay off 20% of its staff. In an interior update to Huobi staff, Justin Sun said that they have been like “fire in this Crypto winter.” However, he didn’t comment on the reports of struggle under the surface at the exchange.
Justin Sun drove Tron’s algorithmic stablecoin USDD also appeared to depeg yesterday. The stablecoin reached as low as $0.9754.
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