Huobi Crypto Expected To Cut Down 30% Of Its Staff Due To Drop In Revenue
Most crypto product and service companies have seen huge revenue drop with the recent trend of events. In addition, the persisting bear market has dealt a devastating blow to several operational activities. There are records of drastic drops in transaction volumes even as the profitability decreases. According to some reports, the 2022 bearish trend is […]
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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. Colin Wu Reports Layoffs Are Coming to Huobi and the Alleged Sale of 50% Stake On June 28, 2022, Colin Wu, the local cryptocurrency and blockchain journalist from China, explained that Huobi “will start layoffs, which may....
According to multiple reports, iToken, formerly known as Huobi Wallet, fell victim to a crypto heist in the last week, leading to the loss of $263,000 worth of users’ assets. The incident draws much attention following recent police investigations into some of Huobi’s former staff. Related Reading: TRON’s Justin Sun Reassures Crypto Community That Huobi Exchange Is Solvent $263,000 Drained From Huobi Wallet – Could There Be An Internal Involvement? Providing more insight on this latest exploit, prominent security firm Peckshield reported that this event occurred on....
Data shows Bitcoin mining difficulty has increased, leading to a 14% drop in daily revenue for miners over the last week. The crypto bloodbath has also impacted their income. Bitcoin Daily Mining Revenue Drops Below $40 Million, A 14% Drop Over The Last Week As per the latest Arcane Research report, the Bitcoin mining difficulty […]
It’s not surprising that lots of crypto-related services and firms are making some adjustments to weather the bearish market and KuCoin was among the listed firms that were rumored to reduce staff due to the prevailing crypto winter. Many firms have struggled to handle the impacts of the price drop of cryptocurrencies. Some even treaded […]
Does someone know something the public doesn't? Crypto-Twitter has been abuzz with speculation about a large amount of USDT flowing into the Huobi crypto exchange. Significant amounts of Bitcoin (BTC) also appear to have exited the platform during the same period. The Singapore-based entity recently issued a statement claiming all is well."We have noticed that recent events have sparked inquiries and speculation from some users," Huobi said earlier today, adding: "Huobi reiterates: 'We are currently operating normally, user assets are safe, and trading, deposits and withdrawals are....