Justin Sun has announced a new set of user experience programs for Huobi Global, including the launch of the Huobi User Experience Bounty Program and the User Experience Advisory Committee.The programs are aimed at securing the public’s trust following a liquidity scare last week. 

Crypto exchange Huobi Global has revealed plans to cut hundreds of jobs amounting to about a fifth of its workforce in the wake of last year’s implosion of competitor FTX.

Whampoa Group, a multi-family office anchored by principals from the Lee family that founded Oversea-Chinese Banking Corp. and Amy Lee, the niece of the city-state’s founding prime minister, aims to deploy about $100 million in Web3 start-ups, through a new venture investment arm. The unit, Whampoa Digital, is seeking ventures that develop blockchain infrastructure and applications that eases the widespread adoption of Web3 technologies.

The downsizing wave that swept through the cryptocurrency industry is still on track as Seychelles-based cryptocurrency exchange, Huobi, has disclosed its plans to prune down its workforce by 20%.

Crypto exchange Huobi saw $94.2 million in net outflows over the last seven days –$60 million (63.8%) of the outflows were recorded in the previous 24 hours — according to Nansen data.

A wallet associated with Tron founder Justin Sun moved $100 million of stablecoins to crypto exchange Huobi. Two transactions took place at 11:10 a.m. UTC, moving $50 million each of USDC and USDT, as noted by security analysts PeckShield.

The bear market deepens as negative news and FUD keep popping up. The latest on the list of fear-causing information is Justin Sun’s USDD stablecoin and popular crypto exchange Huobi. 

Native token of the Chinese crypto exchange Huobi Global, Huobi Token, is down nearly 9% in the last 24 hours after reports of internal strife surfaced on social media. The trading volume of the crypto exchange is also down 23% in the last 24 hours.

Crypto exchange Huobi plans to lay off about 20% of its staff, Tron founder Justin Sun told Reuters.

Reports that Huobi is dramatically cutting headcount, requiring employees to take their salaries in stablecoins, and closing internal staff communication channels to quell a rebellion have taken a toll on its exchange token and trading volume. CoinGecko data shows that Huobi’s HT token has fallen by nearly 11% during the last 24 hours, to $4.67 as of morning East Asia time. The token is down nearly 30% over the past month. (Coindesk)

Singaporean crypto exchange Pionex announced that it removed Huobi’s market-making funds from its platform due to the gradually declining trading activity on the exchange.

The newest ThunderCore validators include the famous virtual asset exchange Huobi and one of the earliest staking platforms in the space, MyCointainer. Users of both will now be able to stake ThunderCore’s native asset TT to earn rewards.

According to a report, Huobi Exchange is forcing its employees to accept salary in USDT/USDC instead of fiat currency. It is also claimed that if they deny to the payment method they will be fired. The HR department is communicating for the same with the employees. This decision has sparked protests against the firm by the employees.

Justin Sun has stated that the crypto exchange Huobi is not carrying out mass layoffs, according to a report from the South China Morning Post on Jan. 2. The South China Morning Post cited earlier reports from the Chinese business news outlet Jiemian, which obtained an internal statement from Sun.

Popular cryptocurrency exchange Huobi will lay off a significant portion of its workforce and cut the salaries of senior employees, according to Chinese reporter Colin Wu.

On Dec. 29, crypto exchange Huobi Global announced the listing of Pi, the native token of the Pi Network. In the 24 hours following the announcement, the Pi token price surged 461.3% from $44.03 to $232.97 at the time of writing, according to CoinGecko data. In addition, the token price reached an all-time high of $307.49 on Dec. 30, data from CoinGecko indicates.

Pi Network’s mainnet upgrade is underway, and Huobi has its eye on the development. The latter has announced that it will support the development, which will be followed by Huobi adding support to the list of Pi. This comes after positive recommendations from the community.

Dear Huobi Users,

Huobi has unveiled plans to collaborate with Visa to launch the Huobi Visa Card globally, starting with Europe.

Huobi announced plans to cooperate with Visa, a world leader in digital payment, to issue the Huobi Visa Card worldwide. This cooperation aims to bring a more efficient fiat-to-crypto gateway for its users and promote the development of the virtual asset industry.