Justin Sun, a company advisor since October 2022, disputed personnel cuts this week.
Sun informed the South China Morning Post that the layoffs were "untrue".
Justin Sun's HR is contacting Huobi staff to switch from fiat currency to USDT/USDC salaries.
Dismissed employees may not take it. The move prompted employee protests.
Justin Sun's Huobi exchange will rescind all year-end incentives and reduce its 1,200-person.
Huobi is one of the major crypto exchanges, according to CoinGecko.
Huobi's layoffs follow industry trends, regardless of its financial situation.