Crypto Exchange Huobi Has Bad News

This is bad news that the cryptocurrency industry could have done without. 

This information suggests that the very difficult period that the young Blockchain-powered financial services industry is going through is far from over.

The cryptocurrency exchange Huobi has just announced a 20% reduction in its workforce in a general move to reduce costs to cope with the fall in cryptocurrency prices.

“With the current state of the bear market, a very lean team will be maintained going forward,” the Huobi spokesperson told news agency Reuters.