Huobi Global denies ‘large-scale layoffs’ and key exec resignations

An exponent from Huobi international says rumors of layoffs are “untrue” and therefore the “senior management team is activating their duties as per tradition.”

Huobi Global says it’s no plans to conduct “large-scale layoffs” and has refuted reports that 2 of its high executives have resigned amid a takeover of the Seychelles-based crypto exchange.

Reports that the company’s CEO Leon Li and chief financial officer Chris Lee have resigned gave the impression to have originated from an Oct. 29 Twitter post from Chinese crypto blogger Colin Chinese, citing “people familiar” with Huobi.

The Twitter post additionally urged there might be mass layoffs planned for its 1,600 workers because of “too several people” acting at the corporate.

However, a exponent from Huobi international told Cointelegraph that rumors there might be mass layoffs ar “untrue” which its senior management continues to perform their duties “as per traditional,” stating:

“Huobi Global’s senior management team is performing their duties as per tradition, and rumors of large-scale layoffs are untrue. At present, Huobi international enjoys a healthy income, and therefore the new shareholders have completed the capital injection.”

“Huobi has incontestable positive development potential in key regional markets, and can still invest in business innovation, exploring international markets and recruiting native workers,” they extra.

However, the exponent admitted that because of the crypto market worsening, some cost-cutting may still air the cards although it didn’t clarify what this might entail, stating:

“Huobi Global is in an exceedingly sound monetary position at the present, however because of the present market worsening, Huobi will create changes to cut back prices and increase potency.”

Huobi could be a Chinese cryptocurrency exchange supported by Leon Li in 2013 and presently has operations in additional than 30 countries around the world and a presence in over 100 countries.

In August, the crypto exchange got the inexperienced lightweight to supply edict cryptocurrency mercantilism services in Australia when registering as a digital currency exchange supplier with the Australian dealing Reports and Analysis Centre (AUSTRAC).

September saw Huobi establish a partnership with South Korea’s “blockchain” town of Busan to supply analysis and development, technology and financial backing for the Busan Digital Currency Exchange. Huobi is additionally set to help in distinctive and hiring blockchain talent for Busan’s native exchange.

Meanwhile, the largest news came in October, once regarding Capital Management (HK) Co. Ltd, a metropolis based-asset management firm, became the exchange’s dominant investor following a made acquisition deal for associate unrevealed quantity.

The post Huobi Global denies ‘large-scale layoffs’ and key exec resignations first appeared on BTC Wires.

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