Huobi to Reportedly Lay Off at Least 30 of Staff Citing Sharp Revenue Drop

The current cryptocurrency downturn is taking its toll and yet another exchange appears to be facing serious challenges. Huobi – a platform that used to be very prominent in china – will reportedly lay off at least 30% of its staff. According to well-known cryptocurrency reporter Colin Wu, Huobi will start cutting staff. The reason is touted to be “the sharp drop in revenue after the removal of all Chinese users.”At the time of this writing, there hasn’t been an official confirmation from the exchange.