The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Digital Asset Exchange Giant Huobi Plans To Lay Off 20% of Its Staff Amid Ongoing Crypto Winter: Report

by Conor Devitt
January 7, 2023
in Trading

The Seychelles-based crypto exchange giant Huobi is reportedly planning to lay off 20% of its staff as the ongoing bear market continues to thrash companies across the industry.

Reuters reports that Huobi says “a very lean team will be maintained going forward” amid the crypto winter.

Tron (TRX) founder Justin Sun, a member of the Huobi advisory board, tells the outlet that the workforce reduction is expected to be completed by the end of the first quarter of this year.

The exchange’s planned layoffs are the latest in a series of cost-cutting measures implemented by many of the industry’s top firms. Last month, Dubai-based crypto exchange Bybit slashed its workforce by a reported 30%.

In November, top US exchange Coinbase removed over 60 jobs in its recruiting and institutional onboarding teams. Coinbase also let go of 18% of its employees in June.

In December, San Francisco-based exchange Kraken let go of 1,100 workers, about 30% of the company’s workforce.

And in October, a report indicated that Singapore-based exchange Crypto.com laid off more than 2,000 employees, an estimated 30-40% of its staff.

Huobi’s native loyalty token, HT, is trading at $4.76 at time of writing. The 49th-ranked crypto asset by market cap is up over 2% in the past 24 hours.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • Sui Joins DeFi Leaders, Topping $100 Million in Bridged USDC
    December 7, 2023
  • WOW EARN Unveils Layer One Blockchain, Redefining Efficiency and Global Accessibility
    December 5, 2023
  • LandX Closes Private Round Securing Over $5 Million in Private Funding
    December 4, 2023
  • Chromia Confirms Mainnet Release in 2024
    December 4, 2023
  • CAGA Crypto – Decentralized Financial Movement Unveiled on MEXC and Bitget
    December 4, 2023
  • TMNG Tokens Successfully Listed on MEXC Crypto Exchange
    December 1, 2023
  • Sui Surpasses $150 Million in TVL, Showcasing Blistering DeFi Momentum
    November 30, 2023
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$42,146.29
$42,146.29
4.17%
Ethereum
$2,238.08
$2,238.08
4.9%
Cardano
$0.55483
$0.55483
5.93%
XRP
$0.621819
$0.621819
6.51%
Dogecoin
$0.097631
$0.097631
2.32%

Spotlight

  • Crypto Strategist Unveils Bitcoin (BTC) Path to $83,000, Gives Short-Term Ethereum Price Target
    December 4, 2023
  • Crypto All Set for Renewed Economic Expansion As Biggest TradFi Firms Eye Industry With Envy: Raoul Pal
    December 4, 2023
  • ‘Giant Whale’ Accumulates 41,779 Ethereum (ETH) Worth $76,800,000 Since September: On-Chain Data
    December 4, 2023
  • PlanB Says Bitcoin Price Explosion to $60,000 Range Imminent As BTC Halving Approaches
    December 4, 2023
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2023 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2023 The Daily Hodl