Huobi to Start Layoffs That Could ‘Exceed 30%’ — Founder May Sell Stake in Company – Bitcoin News

According to Chinese journalist Colin Woo, the so-called “Wu Blockchain”, the crypto company Hubby could lay off 30% of its employees due to “significant recession.” Huobi co-founder Leon Lee also reportedly wants to sell a large stake in digital assets.

The dismissal is coming to Huobi and a 50% share sale has been filed, Colin W. reported

June 28, 2022, Colin WuLocal crypto and blockchain journalist from China He explained. Huobi “will start firing more than 30%.”

Strikes have plagued the crypto industry as a whole. Blockfi, CoinbaseGemini, name, BuenbitRainfall Finance, Bbitt and 2TM workers have left. Crypto summer and volatile markets are the main reasons why executives have decided to reduce the number of employees.

“The main reason for Huobi’s dismissal is the declining income of all Chinese consumers,” Wu said. However, there have been no official announcements of such acts.

They made a spokesman for the company Explain For Coindesk reporter Oliver Knight on June 28, Huobi is reviewing the company’s policies. “Due to the current market situation, HOB Global is reviewing both its employment policies and its current workforce, with the aim of reconciling it with its practical needs.

A.D. On July 1, 2022, Colin Woo revealed another “special” by exposing Huobi founder. Leon Lee He is said to be trying to sell a particular company. Wu’s claim is unconfirmed and no official announcement has been made by Huobi about such actions.

“Founder of Huobi [Leon] Lynn is looking to sell his stake in Huobi. Lee Lee now owns more than 50% of the company, ”said Wu Details On Twitter. “Seyoia is China’s second-largest shareholder.

HOBI has grown exponentially over the past 12 months and the exchange is the fifth largest centralized trading platform in terms of trade, says Koingeko. Statistics.

Huobi 577 offers a variety of digital currencies and has 1027 trading pairs. In the last 24 hours, the exchange has generated $ 856 million in international trade.

HOB Global is the third-largest centralized asset-controlled asset (AUM), compiling $ 7.86 billion at the time of writing. Data from Bituniverse, Peckshield, Etherscan and show that Huobi holds 160,950 BTC, 2.13 million ether and $ 746.3 million USDT.

Huobi announced at the end of May 2022 Acquired Latin American Exchange Bitex. Two weeks later, HOVI launched the blockchain and Web3 Central Investment arm.

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What do you think about the fact that HOBI was told to lay off 30 percent of the company’s workforce? What do you think about the story of Hoby CEO Lee Lin? Let us know what you think about this in the comments section below.

Jamie Redman

Jamie Redman is a news editor at and a Financial Tech journalist based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He loves Bit Coin, open source code and decentralized apps. Since September 2015, Redman has written more than 5,700 articles for news about the disruptive protocols that are emerging today.

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