Huobi News

North Korea's Lazarus Group moved 41,000 Ethereum (roughly $64 million) from the Harmony Bridge hack over the weekend, according to ZachXBT.

FTX's collapse led to market uncertainty and low trust in centralized exchanges, resulting in 3.93 billion stablecoins leaving exchanges since then.

The AI crypto sector continues its surge in popularity as FET token becomes Proof of Reserve asset for Binance, Huobi and Bitfinex.

In the meantime, Huobi global's quarterly revenue fell -98% since the second quarter of 2021.

Huobi Korea chairman Jo Guk-Bong will buy the majority stakes from Huobi global founder Leon Lin.

According to Nansen, the highest outflows were from stablecoins addresses (USDT and USDC) and Ethereum (ETH) wallets with high balances.

In the last 24 hours, Huobi's trading volume and the value of its native token has crashed by 20% and 6%, respectively.

The exchange pointed at the declining trading activity on Huobi as the reason for this decision.