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

Huobi Global states it’s no intends to conduct “large-scale layoffs” and it has refuted reports that a couple of its top executives have resigned among a takeover from the Seychelles-based crypto exchange.

Reports the company’s Chief executive officer Leon Li and chief financial officer Chris Lee have resigned made an appearance to possess originated from your March. 29 Twitter publish from Chinese crypto blogger Colin Wu, citing “people familiar” with Huobi.

The Twitter publish also recommended there might be mass layoffs planned because of its 1,600 employees because of “too many people” working at the organization.

However, a spokesperson from Huobi Global told Cointelegraph that rumors there might be mass layoffs are “untrue” which its senior management is constantly on the perform their responsibilities “as per normal,” stating:

“Huobi Global’s senior management team has been doing their responsibilities according to normal, and rumors of huge-scale layoffs are false. At the moment, Huobi Global enjoys a proper income, and also the new shareholders have finished the main city injection.”

“Huobi has shown positive development potential in key regional markets, and continuously purchase business innovation, exploring worldwide markets and recruiting local employees,” they added.

However, the spokesperson accepted that because of the crypto market downturn, some cost-cutting could be around the cards although it didn’t clarify what this might entail, stating:

“Huobi Global is within a seem budget at the moment, but because of the market downturn, Huobi may also make alterations in keep costs down while increasing efficiency.”

Related: Exactly why is the cost of Huobi Token up 12% today as remaining market slumps?

Huobi is really a Chinese cryptocurrency exchange founded by Leon Li in 2013 and presently has operations in additional than 30 regions along with a presence in over 100 countries.

In August, the crypto exchange got the eco-friendly light to provide fiat cryptocurrency buying and selling services around australia after registering like a digital foreign exchange provider using the Australian Transaction Reports and Analysis Center (AUSTRAC).

September saw Huobi set up a partnership with South Korea’s “blockchain” town of Busan to supply development and research, technology and financial support for that Busan Digital Foreign Exchange. Huobi can also be set to assistance with identifying and hiring blockchain talent for Busan’s local exchange.

Meanwhile, the greatest news arrived October, when About Capital Management (HK) Co. Limited, a Hong Kong based-asset management firm, grew to become the exchange’s controlling shareholder carrying out a effective buyout deal to have an undisclosed amount.

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