Huobi Global has denied rumors that two of its top executives have left amid an acquisition of the Seychelles-based cryptocurrency exchange, stating that it has no intentions to carry out “large-scale layoffs.”
The rumors originated from a tweet from Chinese crypto journalist Colin Wu on October 29, who wrote that the company’s CEO Leon Li and CFO Chris Lee had retired — according to some people familiar with Huobi.
The tweet also implied that 1,600 employees could lose their jobs soon due to the company being allegedly overstaffed.
Huobi Global’s representative, however, debunked the claims and added that the company’s senior management is still carrying out their duties “as per normal.”
Huobi has shown promising expansion potential in significant regional markets, and it plans to keep investing in company innovation, pursuing global opportunities, and hiring local workforce.
Although it didn’t specify what this may involve, the representative acknowledged that some cost-cutting may still be planned as a result of the crypto market crash.
In an effort to help the Busan Digital Currency Exchange with research and development, technology, and funding, Huobi partnered with South Korea’s “blockchain” city of Busan in September. The company will also help the local exchange in Busan find and hire blockchain experts.
The largest development occurred in October when About Capital Management (HK) Co. Ltd, an asset management company with headquarters in Hong Kong, successfully completed a takeover transaction to acquire control of the exchange for an undisclosed sum.
