Cryptocurrency Exchange Huobi Reportedly Laid Off 20% of Its Employees. Despite Denials from Adviser Justin Sun, Reports Confirm the Layoffs
Controversy and Allegations Surround Huobi Layoffs and Justin Sun’s Denial
Digital Exchange of currencies Huobi Reportedly laid off around 20% of its staff. Colin Wu Initially reported on the matter December 30, 2022 saying: “Justin Sun’s Huobi exchange will cancel all year-end bonuses and prepare to lay off the 1,200-person team to 600-800 people and cut the salaries of senior employees, according to various experts.” Wu The update was then completed January 5. stating that:
Justin Sun’s All departments are being contacted by HR department Huobi Changes for employees [their] Fiat currency to USDT/USDC: Form for salary; employees who are unable to accept it may be fired. The Employees protested against the move.
As The speculation grew, according to reporters from South China Morning Post (SCMP) Sun Several people spoke out about the situation, and denied that any layoffs were occurring. However, Coindesk Reports confirmed that speculations about the layoff were true. “With the current state of the bear market, a very small team will remain going forward,” A Huobi Spokesperson Coindesk via email.
.@HuobiGlobal This exchange was established in 2013, and has grown to be one of the most well-known in the world. Huobi It has placed a strong emphasis on security and technology, and has taken a variety of steps to protect its users and assets.
— HE Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) January 6, 2023
In In addition to staff reductions, there are other report The derivative of Twitter This suggests that Huobi Fake employees created it Twitter Accounts to complain about Sun Information about the situation. “Apparently, Justin Sun attempted to dissolve the company (which would presumably leave all employees unemployed),” The full report can be found here. The Report also fixed That Huobi’s Similar problems existed to those that existed during the “Hooexchange CEO’s carpet pulled out his employees.”
On January 5, 2023, Sun In a tweet, I tried to reassure the community that everything was fine. Chinese. The tweet’s rough translation is:
The Recent business growth momentum [Huobi Global is] Well, and basic indicators show high-velocity growth. The The average daily growth rate in the number of registered users and capital flows exceeds the peak of 2022. And The first thousand times of coins such as Pi And Bonk were born and the trading volume related coins ranked top in the industry. This helped to alleviate a few industry pain points and continues to drive the market recovery.
According The Twitter reportThere have been many responses to this question. Chinese Saying that things aren’t going well Huobi. One
