
Major tech firms have also announced varying degrees of job cuts as they continue to adapt to the changing market situations.
Huobi is a global blockchain asset financial services provider including exchange, trade, wallet, and storage.
Founded in 2013 in China, Huobi is the world’s leading digital asset trading platform and currently offers trading and investment in more than 100 digital asset pairs. The company now has offices in Hong Kong, Korea, Japan and the United States. In August 2018 it became a publically listed Hong Kong company.
Following a 2017 ban on Bitcoin exchanges by the Chinese government, Huobi stopped Bitcoin withdrawals and shut down its Chinese website, but continued operating overseas as “Huobi Pro”, a Seychelles-registered company. Huobi China continues to operate as a blockchain consulting and research platform.
As of March 2018, Huobi processed around US $1 billion in trades daily.
Major tech firms have also announced varying degrees of job cuts as they continue to adapt to the changing market situations.
Harmony hack perpetrators Lazarus Group recently moved $63.5 million in ETH, with Binance and Huobi recovering $2.5 million.
The recent development comes as crypto exchange Huobi continues to lose market share in recent times which has now dropped to less than 4%.