Crypto exchange Huobi to layoff 20% of its workforce amid bear market2 min read 06 Jan 2023, 06:27 PM IST
Currently, crypto investors are not just facing the bear markets phase, however, their trust has been dampened heavily by cryptocurrency exchanges and lenders as concerns about their reserves and solvency escalated after FTX's downfall and a series of bankruptcies since mid-2022.
Leading crypto exchange Huobi is looking to layoff around 20% of its workforce. The job cut comes at a time when investors' interest in digital assets has taken a downturn amidst concerns over reserves and solvency at various crypto exchanges and lenders and the current bear market conditions. Also, Huobi's layoff is part of its structural adjustment.
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