The cryptocurrency exchange Huobi has just announced a 20% reduction in its workforce in a general move to reduce costs to cope with the fall in cryptocurrency prices. "With the current state of the bear market, a very lean team will be maintained going forward," the Huobi spokesperson told news agency Reuters. The announcement of the workforce reductions has impacted HT, the native token or the cryptocurrency issued by the Huobi ecosystem. Huobi is, like all cryptocurrency exchanges, the subject of doubts and mistrust about its solidity after the unexpected bankruptcy of FTX. As an example, according to a 2022 study by Forbes magazine on 157 centralized cryptocurrency exchanges, more than half the volumes of exchanges concerning bitcoin are fake.

Source: Forbes January 08, 2023 09:34 UTC