One Huobi International advocate says the layoffs are “incorrect” and therefore “the senior management team is revitalizing their duties according to tradition”.

Huobi Global says it has no plans to conduct “massive layoffs” and refutes reports that two senior executives have resigned amid the takeover of the Seychelles crypto exchange.

Reports that the company’s CEO Leon Lee and CFO Chris Lee have resigned gave the impression that they originated from an October 29 Twitter post by Chinese crypto blogger Colin Chinese, citing “people familiar with” Huobi.

In addition, the post on Twitter urged that there could be mass layoffs for its 1,600 workers due to “too many people” acting at the company.

However, one advocate from Huobi International told Cointelegraph that the rumors could be “incorrect” mass layoffs and that its top management continues to perform duties “according to tradition”, noting the following:

“Huobi Global’s senior management team is performing their duties according to tradition, and the rumors of large-scale layoffs are not true. Currently, Huobi International has a healthy income, so the new shareholders have completed the capital injection.”

“Huobi has an indisputable positive development potential in key regional markets, and can still invest in business innovation, explore international markets and hire local workers,” they added.

However, the foundations acknowledged that due to the slump in the cryptocurrency market, some of the cost-cutting may continue to stream the cards although it did not elaborate on what this might entail, saying:

“Huobi Global is in a very sound monetary position at the moment, but due to the current market downturn, Huobi will create changes to lower prices and increase efficiency.”

Huobi was a Chinese cryptocurrency exchange that was backed by Leon Li in 2013 and currently has operations in more than 30 countries around the world and has a presence in more than 100 countries.

In August, a cryptocurrency exchange acquired an inexperienced cryptocurrency exchange to provide cryptocurrency trading services in Australia when it registered as a crypto exchange supplier with the Australian Dealing Analysis and Reporting Center (AUSTRAC).

September saw Huobi partner with Busan “blockchain” in South Korea to provide analysis, development, technology, and financial support to the Busan Digital Currency Exchange. Huobi is also set up to assist in the recruitment and recruitment of premium blockchain talent for local exchanges in Busan.

Meanwhile, the biggest news came in October, once regarding Capital Management (HK) Co. Ltd, a capital-based asset management firm, became the dominant investor in the stock exchange after an undisclosed amount takeover.

the post Huobi Global denies “large-scale layoffs” and major executive resignations First appeared in BTC wires.

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