One of the leading cryptocurrency exchanges Huobi Globalin a statement on Friday, local stablecoin announced that HUSD was delisted.
After Huobi’s statement HUSDlost its stability to the dollar and fell as low as 28 cents.
Huobi said in a statement that after the decision to delist HUSD, users will be able to use their HUSD funds as the largest stablecoin by market value. to Tether (USDT) announced that it will help them transform.
Huobi also announced that with the delisting of HUSD, its users Justin Sun’s Tron (TRX) network’s algorithmic stablecoin USDD’He also announced that they will help them transform into
“As part of our continued efforts to promote the healthy development of the blockchain ecosystem, Huobi Global will discontinue the HUSD trading service and delist HUSD.
Meanwhile, users’ HUSD holdings will be converted to USDT holdings at a 1:1 ratio.
We will post another announcement to let users know that the transformation, which is expected to happen before November 4, 2022 (GMT+8), is complete”
Launched by Stable Universal, HUSD is a relatively small stablecoin that Huobi released in 2018 pegged to the dollar like other stablecoins.
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