HUSD dropped to 0.8 at one point, but has now stabilized! Official statement: Due to compliance requirements, there is a short-term lack of liquidity.

The stablecoin HUSD supported by Huobi experienced a price deviation on the 18th, dropping to as low as 0.8 at one point. By the early hours of the 19th, it gradually recovered, with trading prices against USDT and USDC ranging from 0.99 to 1 at the time of writing. The decentralized exchange protocol Curve's HUSD+3Crv pool also showed exchange prices of 0.99 to 1, while the liquidity of HUSD decreased from 90% to 66.92%.

The stablecoin HUSD supported by Huobi experienced a price deviation on the 18th, dropping to as low as 0.8 at one point. By the early hours of the 19th, it gradually recovered, with trading prices against USDT and USDC ranging from 0.99 to 1 at the time of writing. The HUSD+3Crv pool on the decentralized exchange protocol Curve also showed exchange prices of 0.99 to 1, with HUSD liquidity decreasing from 90% to 66.92%.

The official Twitter account of HUSD explained that recent compliance requirements led to the decision to close accounts in specific regions, including some market makers' accounts. Liquidity issues arose due to the time differences of various banks but have since been resolved.

The global official Twitter account of Huobi responded to this news only today, stating, "After Huobi actively collaborated with the issuer of HUSD, the liquidity issue of the stablecoin has been resolved." Huobi also cautioned users to be mindful of risks given the recent volatility in the cryptocurrency market.

Reports suggest that Huobi exited the operation of the stablecoin HUSD back in April this year.