Gemini Launched Crypto Services in Six Countries in Europe
Gemini Launched Crypto Services in Six Countries in Europe

Huobi Global denies ‘large scale layoffs’ rumors

According to a report by Cointelegraph, Huobi Global has denied having any plans to have “large scale layoffs” and has even repudiated reports regarding the resignations of its two top executives during the acquisition of a Seychelles-based cryptocurrency exchange.

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MThe reports stated that Huobi Global’s Chief Executive officer (CEO) Leon Li and chief financial officer (CFO) Chris Lee have submitted resignations. The speculations started on October 29, 2022 with a Twitter post from Chinese crypto currency blogger Colin Wu, as he is considered to be among “people familiar” with Huobi. The details of the tweet also escalated the possibility of huge layoffs planned for 1600 staff members on pretext of “too many people” employed in the company.

Source: Huobi Global

On the given matter, a Huobi Global spokesperson said, “Huobi Global’s senior management team is performing their duties as per normal, and rumours of large-scale layoffs are untrue. At present, Huobi Global enjoys a healthy cash flow, and the new shareholders have completed the capital injection. Huobi has demonstrated positive development in key regional markets, and will continue to invest in business innovation, exploring international markets and recruiting local employees.”

As per the information given by Cointelegraph, the Huobi Global spokesperson did agree that due to the implications following the downturn of the cryptocurrency market, various cost control measures could be introduced. Although, no further details were disclosed about the matter.  The spokesperson stated, “Huobi Global is in a sound financial position at present, but due to the current market downturn, Huobi will also make adjustments to reduce costs and increase efficiency.”

More about Huobi Global

Founded by Leon Li in 2013, it is a renowned Chinese crypto currency exchange that reportedly operates in over 30 countries on a worldwide scale and has presence in more than 100 countries. In Aug 2022, Huobi Global was granted the permission to offer fiat crypto currency trading services in Australia, after it registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC) as a digital currency exchange provider.

Huobi Global is a leading global crypto currency exchange where one can buy and sell Bitcoin, Ethereum and more crypto currencies easily and quickly. It is registered in Seychelles. At present, there are 656 coins and 950 trading pairs available on the exchange. It has a very crypto friendly community and one of its biggest goals is to reach everywhere in the Caribbean.