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TimeStamps:
00:00 Intro
00:44 Huobi To Layoff 20% of Staff
02:20 Huobi Global Token (HT)
03:08 Huobi Shutting Down Internal Employee Channels
04:05 Huobi Experiences $60M Token Outflows in a Day
05:09 Justin Sun’s Huobi Statement
06:11 Huobi vs Binance
07:35 Final Thoughts
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For myself I'm joining to be a wonder of The global Advisory Board of 4B hobby is Still I think it's like top five to top A Exchange in the world okay good Overview of the current situation at Whoopi global Maybe it's nothing maybe it's something At this point you'd be crazy to hold Your assets there though and before I Share with you this breakdown as well as Before we get to Justin Sun who is the Founder of the Tron blockchain now Advisor to Ho Obi since October before We get to his statement let's go over a Summation on where we are right now so You can make the best decision for you Hawobi confirms a 20 layoff of their Workforce as of yesterday and denies Insolvency rumors and as of yesterday Those insolvency rumors are flying Because Breaking who will be shuts down internal Employee communication groups and Feedback channels what's going on at Huobi so they're cutting the workforce Certain channels are going dark and Let's not forget Key huobi execs including huobi group CFO Lilly Zhang allegedly left the Company a few months ago when Justin's Son sort of came on following the new Shareholders takeover now the only Confirmation we have thus far is the Layoffs in a direct quote from Hawaii
They say the planned layoff ratio is About 20 percent but it's not Implemented now and the representative Emphasized that the allegations of Hawaii firing as many as 40 percent of Their employees was a rumor in a direct Quote explaining the layoffs they say With the current state of the bear Market a very lean team will be Maintained going forward the Personnel Optimization aims to implement the brand Strategy optimize the structure improve Efficiency and return to the top three And they maintain they are still solvent We are aware of the comments regarding The Hawaii app and the safety of user Assets such unfounded and inflammatory Rumors not only damage huobi's brand Image But ultimately affect the Interests of huobi users but then why Are they shutting down their internal Communication channels also much like Binance much like FTX whooby does have Their own token Hawaii tokens HT the ticker is a Significant portion of the exchange's Reserves the crash of HT token is not Good for huobi and by the way the goal Of this video is not to spread fud again It's to give you both sides of the story So you have all the information And before we get to Justin Sun's Current statements let's not forget his Involvement as previously reported how
Will be founder and majority shareholder Leon Lee sold his entire stake in the Crypto exchange to Sun linked about Capital in October 2022. so why did the Original leadership a couple months ago Have a mass Exodus This is the bear case Could be fud could be early signs of Another exchange going tits up we tend To see this sort of pattern before Implosions either way there is no Downside to removing funds from who will Be but potentially mountains of risk if You leave it there be safe this is what He's referring to the proof of the Shutdown of internal channels sun Lijawobi has closed the communication Group with internal employees today and Blocked all communication and feedback Channels with employees this is very Dangerous and it is not ruled out that The internal employees Rebel and Directly rug away user assets or Programmers add backdoor Trojan horses Such incidents have occurred on multiple Exchanges in the past year obviously That's heavy fud if wrong people are Just very wary right now given the post FTX world and because of all this bad Press crypto exchange who will be Experiences 60 million token outflows in A day On-chain data shows more than 100 Million tokens left the exchange this
Week most of them in the past 24 hours While stablecoin reserves have dropped 9.5 percent in a week so here is a chart Of the token outflows of each different Exchange who will be compared to Kraken Paxos crypto.com Etc and we notice net Outflows massive for Holby we have Inflows of just 36 million outflows of Over 100 million Kraken coming in at Number two with over 21 million dollars In outflows again this is all in a 24-hour period and what people are Withdrawing the most of top withdrawals Are mainly in usdt usdc also ethereum From wallets with high balances Including a smart LP so these aren't the Minnows these aren't the fishies these Are the whales seemingly that are Withdrawn now Justin's son attempting to Quell the fear rally the troops tweeting This morning At Hawaii Global we believe the key to Success in the world of cryptocurrency Is to ignore fraud and keep building What do we mean by this first it's Important to recognize that the world of Crypto can be volatile and uncertain at Times he goes on to Define what the word Fud means but as a leading Cryptocurrency exchange our strategy at Huobi is to stay focused on the long Term and not get swayed by short-term Distractions he goes on to share a very Motivating tweet thread that probably
Somebody from his PR team wrote for him And he finishes by stating in conclusion At huobi our strategy is to ignore Thought and keep building by staying True to our mission investing in Technology and security listening to our Users We're able to provide a trusted and Reliable platform for our users to buy Sell and trade cryptocurrency again Probably written by the pr team at least He made a statement yet another third Party take on the situation this is the CEO of analytics firm crypto Quant he Says Hawaii seems to be very vulnerable At the moment the CEO noted that huobi's Bitcoin reserves are down 90 percent in The past year while binances have more Than doubled hawobi's active user Addresses have dropped significantly too So BTC reserves down 90 percent active Users decreasing in fact huobi's user Activeness dropped 44 times lower from The Peak in May 2019 and 20 times lower Than binance as of January 3rd 2023 so The data doesn't lie of course keep in Mind we are in a bear market so it does Make sense that user activity would drop And many different exchanges yet binance Seems to be killing it at least from This data and huobi seems to be Suffering now this is an ongoing story Be sure to subscribe to stay up to date And just checking in on what the
Official who will be Global Twitter Account has to say besides just making Sort of of token announcements of Trading on their exchange they did Retweet Justin's son and say at huobi we Are committed to building and pushing Digital assets to be the future and Beyond the minute I get more information I will make a video I will keep you Updated that is the video my name's Austin be sure to grab your tickets for Bitcoin 2023 use code altcoin daily for 10 off your ticket this is the largest Bitcoin conference in existence later This year in Miami so many good speakers Use code altcoin daily for 10 off Down below Appreciate you
