In a statement to The Block, a Huobi spokesperson said that the personnel optimization is intended to "implement the brand strategy, optimize the structure, improve efficiency and return to the top three." The decision comes amid rumors that Huobi's new owners have cut off key communication channels with staff and that salaries are now being paid in stablecoins instead of fiat currency.
Huobi Acquired by About Capital Management's M&A Fund
Huobi, a Singapore-based cryptocurrency exchange, was acquired by About Capital Management's M&A fund on October 7th. Following the acquisition, Tron founder Justin Sun was named as an advisor to Huobi. Rumors circulated that Sun was the buyer behind the deal, but he denied these claims in correspondence with The Block.
Huobi Plans Global Expansion, Denies Closing Internal Communication and Feedback Channels
Huobi, a Singapore-based cryptocurrency exchange, is reportedly embarking on a global expansion plan. In a statement to The Block, a Huobi spokesperson denied rumors that the exchange had closed internal communication and feedback channels, saying that the exchange will "fully respect the legitimate demands of local employees and continue to provide industry-competitive incentives and treatment for outstanding talent." The spokesperson also mentioned that Huobi is adding 390,000 new users per month.