Attention: This Crypto Exchange Announced It Will Delist Its Own Coin!

Cryptocurrency stock market Huobi Globalthe troubled coin with a closely related stablecoin HUSD severs ties with

In a notice to users, Huobi, the top trading platform for the $219 million market cap stablecoin, referred to its rules to conduct “regular review” on listed assets.

Cryptocurrency Exchange Huobi Will Delist HUSD Stablecoin Tomorrow at 11:00 CEST

Huobi, which has recently accepted to be acquired by About Capital and is among the top 10 exchanges by trading volume, HUSD your altcoin He said he will begin delisting at 11:00 CET on Friday, after which he will begin converting assets into USDT at a 1:1 ratio.

HUSD is a relatively small stablecoin that Huobi launched in 2018 as a “stablecoin solution” that accepts other dollar-pegged tokens as support. It was launched by Stable Universal, but was heavily marketed as a “exclusive” token on its own exchange when it was released by Huobi.

This move continues the wave of consolidation and contention in the $140 billion stablecoin sub-sector of the cryptocurrency industry, which has long been dominated by USDT. But the influx of newcomers has recently shaken USDT dominance.

HUSD had its own problems, too. In August, this stablecoin briefly lost the dollar peg and fell 8% after the issuer closed “several accounts” due to regulatory concerns.

No additional statement has been made yet from the cryptocurrency exchange Huobi.

*Not investment advice.