Huobi Global, a cryptocurrency exchange, has severed ties with its closely related stablecoin, the troubled asset HUSD. Huobi, the top trading venue for the $219 million market-cap stablecoin, cited its rules for performing “regular inspection” on listed assets as the reason, in a notice to users. Huobi, a top ten exchange by trading volume that recently agreed to be acquired by About Capital, announced that it will begin delisting HUSD at 8:00 UTC on Friday and will begin converting assets to USDT on a 1:1 basis in the interim. HUSD briefly lost its dollar peg and fell 8% in August after its issuer closed “several accounts” due to regulatory concerns.
