Bitcoin-exchange Huobi reported massive layoffs in the Australian unit

The cryptocurrency exchange Huobi Global has announced that its Australian unit will now be managed from Singapore headquarters.

“Please note that due to unfavorable market conditions and the related recent staff cuts, all operations at Huobi Australia, including platform management, social media and customer support, will be carried out from Huobi Global headquarters starting February 26”

The company also abandoned plans to add support for fiat currencies and in this regard, will withdraw the application for registration at the Australian Transaction Reporting and Analysis Center (AUSTRAC). Thus, the exchange will continue to support only cryptocurrency pairs.

The Huobi Australia team has wished everyone who has supported the platform for eight months since its launch, success in trading, portfolio investment and a lot of green candles this year.

Earlier, BlockchainJournal reported that half of the employees of the Huobi Group could be cut.

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