Huobi's TVL drops to $2.5B amid rumors of insolvency, investigations in China

Cryptocurrency trade Huobi has seen outflows price $64 million between Aug. 5-6, amidst ongoing rumors about its solvency and that Chinese language authorities had been investigating its executives. Outflows over the weekend resulted within the trade’s complete worth locked (TVL) falling to $2.5 billion on the time of writing, down from $3.09 on July 6.

Rumors that the trade’s management had been arrested in China first surfaced on Aug. 4, as a part of an alleged investigation in regards to the trade’s dealings with playing platforms. Talking to Cointelegraph, a Huobi spokesperson labeled the claims as pretend information. Rumors floor as authorities are reportedly tightening up management over cryptocurrency exchanges in mainland China.

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