Problems for Huobi ?
The crypto exchanges have taken many hits in the previous months, in terms of market openings and through institutional players.
One of the crypto exchanges that might be in difficult position would be Huobi. Apart from the regulatory difficulties, there might be some trading issues. The assets have declined significantly from $3 billion to $2.5 billion in just a month while there are severe outflows (around $64 million) during the last weekend.
The basic problem in this case are the mass sales of Tether USD from Binance. This has revealed some weird moves in balance sheets from different crypto exchanges, who rely on Binance for some services.
Minor issues that goes under the radar in the news sector have major consequences in the solvency of those companies and how they work on long-term basis.
A major drop in the stablecoins and their fixed prices is going to bring major vibrations in the market…..
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