Justin Sun confirms 20% staff cuts at Huobi amid insolvency rumors
Rumors have been swirling about Huobi’s insolvency and employee cuts. Now, advisor Justin Sun confirms 20% of staff will be let go.
Cryptocurrency news by Protos · Protos
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Show Notes
In a text message to Reuters, Huobi’s advisor Justin Sun confirmed that the crypto exchange plans to dismiss 20% of its employees this quarter.
“The planned layoff ratio is about 20%, but it is not implemented now. With the current state of the bear market, a very lean team will be maintained going forward,” a Huobi spokesperson told The Block.
Tron founder Sun sits on Huobi’s global advisory board. For the past few days, he’s been battling rumours of Huobi’s insolvency on Twitter.
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