Things look grim for Huobi due to a hike in withdrawals from the platform. Users have shared fears regarding the centralized exchange’s solvency capabilities. A major reason behind such fears is reported suggesting layoffs to be conducted by Huobi. In addition, the crypto market has always been prone to rumors, making the situation even worse. Even now, Huobi stands among the top ten crypto exchanges in terms of volume.

(By Roxanne Williams)