Huobi Global has clarified that it is not planning any “large-scale layoffs” and has dismissed reports suggesting that its CEO and CFO have resigned in the midst of a Seychelles-based crypto exchange takeover.
Speculations about the resignation of CEO Leon Li and CFO Chris Lee emerged from a tweet on Oct. 29 by Chinese crypto blogger Colin Wu, who cited sources close to Huobi.
The tweet hinted at potential mass layoffs affecting the company’s 1,600 employees due to an alleged surplus of workforce.
However, a spokesperson from Huobi Global informed Cointelegraph that the rumors of impending mass layoffs are unfounded. The senior management team is operating as usual, with the spokesperson stating:
“Huobi Global’s senior management team is functioning normally, and reports of extensive layoffs are false. Huobi Global currently has a healthy cash flow, and the new shareholders have already injected capital.”
The spokesperson highlighted Huobi’s growth prospects in key regional markets and the intent to continue investing in innovation, global market expansion, and local talent recruitment.
Acknowledging the impact of the crypto market decline, the spokesperson mentioned the possibility of cost-cutting measures without specifying the details, saying:
“While Huobi Global is financially stable, adjustments may be made to streamline costs and enhance efficiency in response to market conditions.”
Huobi, founded by Leon Li in 2013, operates in more than 30 countries and has a presence in over 100 nations.
In August, Huobi received approval to provide fiat-cryptocurrency trading services in Australia after enlisting as a digital currency exchange provider with AUSTRAC.
In September, Huobi partnered with Busan, South Korea’s “blockchain” city, to offer research, technology, and financial backing for the Busan Digital Currency Exchange. Huobi will also assist in recruiting blockchain experts for Busan’s local exchange.
A significant milestone occurred in October when About Capital Management (HK) Co. Ltd, a Hong Kong asset management firm, acquired the majority stake in the exchange through a successful undisclosed buyout.
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