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The Korean-based entity will take up a new name, and henceforth, operate independently from Huobi Global.Crypto exchange Huobi Korea is reportedly gearing up to part ways with its parent company Huobi Global. According to News1, Huobi Korea will also seek to change its name as part of the separation process.Huobi
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Huobi cryptocurrency exchange has confirmed plans to lay off 20% of its employees as part of the ongoing restructuring following Justin Sun’s acquisition of the firm.“The planned layoff ratio is about 20%, but it is not implemented now,” a spokesperson for Huobi said in a statement to Cointelegraph on Jan.
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Core Scientific experienced a four-day stock surge after one of its creditors offered to pull it out of its financial mess.Core Scientific (NASDAQ: CORZ) recently experienced a 200% stock surge over the past four days. The digital asset minting facilitator and blockchain infrastructure provider has endured difficult times throughout 2022.
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To be fair, it is not just crypto companies that say they are merely suffering from a “liquidity crisis” when they are actually insolvent. Traditional financial institutions are just as likely to say everything will be fine if only someone will lend them some more money. For example, RBS, the
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Cryptocurrency trading firm Amber Group is putting its expansion plans on hold despite the FTX contagion having “no disruption” to its daily operations, according to a senior executive.Amber has scrapped plans to expand in Europe and the United States as a consequence of exposure to the now-defunct exchange FTX and
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Crypto asset provider Zodia Custody has launched a new service to help protect its clients from exchange insolvency. According to the company, its new service, Interchange, will provide an alternative to the pre-funding and margin models of exchanges. The service is set to allow users to keep their assets with Zodia
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The crypto storage provider has rolled out a new service designed to protect clients' digital assets from insolvency of crypto exchanges. Source
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An inside joke about the “insolvency” of Wrapped Ethereum (wETH) over the weekend has forced influencers to explain it was just a “shitpost” after members of the community took it as real. The wETH insolvency FUD (fear, uncertainty and doubt) seemingly began to make the rounds on Nov. 26, with false
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Crypto markets crumbled for a second day as the fallout from FTX’s liquidity troubles continued to negatively impact investor sentiment. Bitcoin (BTC) price fell to a new yearly low at $16,800 as anonymous unconfirmed sources suggested that after a closer review of FTX’s books, Binance could back out of their agreement
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FTX CEO Sam Bankman-Fried has dismissed speculation over whether the company has enough capital to cover its liabilities and customer deposits. Source
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