CEO of Huobi Group Li Ling (Li Lin) reported that last year the volume of trading exceeded $200 billion, resulting in trade charges amounted to more than $500 million, the head and owner of Huobi wrote in a letter to employees of the exchange for the year.
According to reports, the two largest in terms of trading the world of crypto currency exchange, Binance and OKEx, earned commissions on smaller amounts of $462 million and $292 million respectively.
Previously the CEO of Huobi Global van Livio (Livio Weng) said that the exchange Huobi business generates 70% of revenue, and the company continues to remain profitable. He also confirmed the reduction of some unprofitable divisions and the dismissal of approximately 100 employees. The Chinese media reported about plans of reduction to 50% of the staff Huobi, they were confirmed by an unnamed former Manager of the company. According to Wen, the company now employs about 1,300 people.
Chapter Huobi Group in a letter to employees predicted a difficult year and encouraged to prepare for the worst.
“The situation in 2019 may be more difficult than in 2018, even much heavier and more complex than in any other year over the last 6 years.”
Recall that last year Huobi have actively expanded the geography of stock exchange business, were open regulated trading platform in Korea, USA, through the purchase of the crypto currency exchange BitTrade returned to Japan. In November was launched the cryptocurrency derivatives exchange Huobi DM, by mid-January, the total volume of trading exceeded $20 billion.