Within the last week, Huobi has seen net outflows of nearly $94.2 million USD. The crypto analytics company Nansen estimates that $60 million has left the exchange just in the last 24 hours.
on Jan. 6 that rumors of Huobi firing as many as 40% of employees were untrue, stating, “The planned layoff ratio is about 20%, but it is not implemented now.” The layoffs are allegedly a part of ongoing restructuring following Justin Sun’s acquisition of the firm.
In response to rumors about the exchange’s financial health and layoffs, Sun claimed that the exchange’s business was in good standing and alleged that user assets were fully protected. Despite Huobi’s denial of these rumors, many users remain skeptical about the exchange’s future due to Sun’s antics.
Huobi's shadow owner is Justin Sun. Justin Sun is perhaps the most erratic billionaire in crypto. Justin has been sending billions of dollars of stablecoins around the space, including in and out of Binance. Something huge is afoot. Withdraw all coins from unregulated exchanges.
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