Strange things are happening at the crypto exchange Huobi. The crypto exchange confirmed three days ago that it would reduce about 20 percent of its workforce. The news comes at a time when rumors are circulating that Huobi has closed internal communication and feedback channels. The company is also reportedly requiring staff to receive salaries paid in stablecoins, and it is believed that the company has canceled various employee benefits.
– The planned layoff ratio is about 20 percent, but it has not been implemented yet. With the current state of the bear market, a very small team will be maintained in the future – said a company spokesperson.
However, they denied rumors of closing internal communication and feedback channels and stated that claims about reduced employee earnings are inaccurate.
According to CoinRanking, Huobi Global is currently the tenth largest crypto exchange in the world by trading volume. In August 2022, Huobi’s founder Leon Li began expressing interest in selling his 60 percent stake in the company. By early October, the exchange reached an agreement with the Hong Kong-based investment firm About Capital, giving it control over the majority stake in the company.
It is rumored that Tron founder Justin Sun used About Capital as a proxy company to acquire Huobi. Sun denied the claims, insisting that he joined the company only as an advisor.
Interestingly, blockchain data indicates that Sun transferred approximately $100 million in USDT and USDC to the exchange three days ago. He also reassured Huobi users on Twitter, encouraging them to ‘ignore FUD and keep building.’
