Huobi crypto exchange to Fire 20% of Employees:

[{"selector":"#anim-4d24ecf9-c6b4-47a9-8a8a-e1679d1c88f6 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(32.073317179822624%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Justin Sun, a company advisor since October 2022, disputed personnel cuts this week.

[{"selector":"#anim-d5c312b6-ca8c-4cf7-9bf9-7af9f8fcf85c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(-7.257382089898869%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Sun informed the South China Morning Post that the layoffs were "untrue".

[{"selector":"#anim-a3840951-258c-4887-85c4-84c72ee08d0b [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(33.12499989760315%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Justin Sun's HR is contacting Huobi staff to switch from fiat currency to USDT/USDC salaries.

[{"selector":"#anim-10d5ca2d-517d-4f07-be52-b46c34ad8cba [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-28.90624987200394%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Dismissed employees may not take it. The move prompted employee protests.

[{"selector":"#anim-75b2ac6e-1dc9-448f-b1cc-16a6d0b7d48e [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(45.74519236050424%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] Justin Sun's Huobi exchange will rescind all year-end incentives and reduce its 1,200-person.

[{"selector":"#anim-9478d1e2-459f-4a25-9a8e-72b567a0ae47 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(4.017565288354991%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] Huobi is one of the major crypto exchanges, according to CoinGecko.

[{"selector":"#anim-792d179e-ab70-4cb5-aaa5-d9c15c352efe [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(17.808593474600617%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Huobi's layoffs follow industry trends, regardless of its financial situation. Learn more