Share this article
After Huobi Delisting Stablecoin HUSD Falls 72% From Dollar Peg
Huobi has said it will assist customers in exchanging HUSD for USDT.
Updated May 9, 2023, 4:00 a.m. Published Oct 31, 2022, 8:11 a.m.
The once-popular HUSD stablecoin has fallen dramatically from its $1 peg, dropping to a low of 28 cents after crypto exchange Huobi announced it delisted the asset on Friday.
Huobi said users can still exchange HUSD tokens for tether , the industry's largest stablecoin by market cap.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Stablecoins are designed to mirror the value of other assets, typically fiat currencies like the dollar, pound sterling or euro. The stablecoin sector was shaken up earlier this year following the collapse of terraUSD (UST), which prompted an implosion of the entire $60 billion Terra ecosystem.
HUSD, which is issued by Stable Universal, also suffered issues earlier this year when it began to fluctuate away from its peg.
Tron founder Justin Sun has taken a senior role at Huobi in recent weeks and one of the immediate changes he is making is shifting volume to his own stablecoin, USDD. While Huobi didn't issue HUSD, it was active in marketing the token since its launch in 2018.
HUSD currently has a market cap of just $63 million, down significantly from its all-time high of over $1 billion in 2021.
Huobi did not immediately reply to CoinDesk's request for comment.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
What to know:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
