"Problems come all at once, then what happened to Huobi?"
The founder of Huobi Global, Justin Sun, who is in trouble following the 'bleeding' of the cryptocurrency market, is now under more pressure when South Korea's Huobi intends to cut ties with its parent company.
Reports also mention that Huobi Korea is ready to change its company name and find a way to run its own business.
While most Koreans want to get back the shares they invested in Huobi Global.
According to Cho Kook-bong, the Chief Executive Officer (CEO) of Huobi Korea is willing to buy all the shares of his company even though the founder of Huobi Global, Leon Li holds more than 50% of the shares.
It is understood that the following incident occurred while Huobi was conducting proof of reserves (PoR) and the FTX crisis that rocked the crypto market until now is not forgotten.
Earlier, Sun laid off around 20% of its employees at Huobi to strengthen their company's finances even though over the past three months Huobi users recorded an increase of up to 20,000.
For the record, the price of Huobi Token (HT) plunged by 25% over the past 30 days but managed to see a jump of around 3% at $5.00 in the past 24 hours.
As of this writing, the price of HT has declined by almost 10% at the $4.85 zone while its trading volume has slipped by 23%.
