Apart from that, there is a movement of large amounts of assets that allegedly belong to Justin Sun by carrying out sales actions and Huobi is listing speculative tokens which for crypto twitter have a high possibility of dumping prices.
Huobi Fires 1,200 Employees
The Twitter account of crypto observer Wu Blockchain (@WuBlockchain) received information from an insider who said that as many as 1,200 Huobi employees were dismissed or around 40% and would leave 600-800 employees and cancel year-end bonuses.
However, Huobi adviser, Justin Sun, denied the issue of the layoff written in Chinese characters with the following reading,
Huobi layoff plans shared by the media went wrong. Huobi's business has developed very well recently, and newcomers every day have risen to the top of the industry. This is a vital era of development, and I'm sure it will get even better in 2023.
In the latest news, these rumors have been proven to be true, Huobi has confirmed plans to lay off 20% of its employees, as part of the ongoing restructuring following the acquisition of the company by Justin Sun.
“The planned layoff ratio was around 20%, but it is not being implemented now,” a Huobi spokesperson said in a statement to Cointelegraph on Jan. 6.
The representative emphasized that Huobi's alleged dismissal of 40% of employees was a rumour. Huobi has established a new organizational structure after new shareholders took over, the spokesperson said, adding that the company had adjusted business departments.
In its statement, Huobi also stressed that the recent media accusations of the bankruptcy of the cryptocurrency exchange were untrue.
Speculative Token Listing
Huobi recently listed speculative tokens such as the popular Pi Network (PI) on December 29, 2022 and Bonk on January 3, 2023. Even in the case of Pi Network, this listing was denied by Pi Network saying they had no cooperation regarding listings with exchanges. any crypto including Huobi.
The traded Pi Network is an IOU version and is invalid because there is no approval from the Pi Network. However, the price of the Pi Network touched a high of $330.65 before trading at $105.05, down -69% on January 6, 2023.
BONK showed a +2000% increase when listing on Huobi and then experienced a -50% decrease from its high price on the Huobi exchange.
Seeing this incident, crypto twitter speculates that Huobi is deliberately taking advantage of the popularity of certain crypto projects in listing and making it an opportunity to conduct token sales when retail has entered the market.
Movement of Assets Allegedly Belonging to Justin Sun
The Twitter account Look on Chain (@lookonchain) detected that Justin Sun's wallet withdrew assets totaling $100 million in USDC and USDT.
Additionally, there is the TRON wallet that borrowed 90 million TRX ($4.85 million) from the JustLend protocol and transferred it to Binance to open a SHORT position on the TRX pair. It is suspected that this wallet belongs to Justin Sun.
Crypto asset exchange Huobi was hit by several negative issues in crypto circles. Twitter stated, Huobi had laid off and closed internal communications.
Apart from that, there is a movement of large amounts of assets that allegedly belong to Justin Sun by carrying out sales actions and Huobi is listing speculative tokens which for crypto twitter have a high possibility of dumping prices.
Huobi Fires 1,200 Employees
The Twitter account of crypto observer Wu Blockchain (@WuBlockchain) received information from an insider who said that as many as 1,200 Huobi employees were dismissed or around 40% and would leave 600-800 employees and cancel year-end bonuses.
However, Huobi adviser, Justin Sun, denied the issue of the layoff written in Chinese characters with the following reading,
Huobi layoff plans shared by the media went wrong. Huobi's business has developed very well recently, and newcomers every day have risen to the top of the industry. This is a vital era of development, and I'm sure it will get even better in 2023.
In the latest news, these rumors have been proven to be true, Huobi has confirmed plans to lay off 20% of its employees, as part of the ongoing restructuring following the acquisition of the company by Justin Sun.
“The planned layoff ratio was around 20%, but it is not being implemented now,” a Huobi spokesperson said in a statement to Cointelegraph on Jan. 6.
The representative emphasized that Huobi's alleged dismissal of 40% of employees was a rumour. Huobi has established a new organizational structure after new shareholders took over, the spokesperson said, adding that the company had adjusted business departments.
In its statement, Huobi also stressed that the recent media accusations of the bankruptcy of the cryptocurrency exchange were untrue.
Speculative Token Listing
Huobi recently listed speculative tokens such as the popular Pi Network (PI) on December 29, 2022 and Bonk on January 3, 2023. Even in the case of Pi Network, this listing was denied by Pi Network saying they had no cooperation regarding listings with exchanges. any crypto including Huobi.
The traded Pi Network is an IOU version and is invalid because there is no approval from the Pi Network. However, the price of the Pi Network touched a high of $330.65 before trading at $105.05, down -69% on January 6, 2023.
BONK showed a +2000% increase when listing on Huobi and then experienced a -50% decrease from its high price on the Huobi exchange.
Seeing this incident, crypto twitter speculates that Huobi is deliberately taking advantage of the popularity of certain crypto projects in listing and making it an opportunity to conduct token sales when retail has entered the market.
Movement of Assets Allegedly Belonging to Justin Sun
The Twitter account Look on Chain (@lookonchain) detected that Justin Sun's wallet withdrew assets totaling $100 million in USDC and USDT.
Additionally, there is the TRON wallet that borrowed 90 million TRX ($4.85 million) from the JustLend protocol and transferred it to Binance to open a SHORT position on the TRX pair. It is suspected that this wallet belongs to Justin Sun.
Crypto asset exchange Huobi was hit by several negative issues in crypto circles. Twitter stated, Huobi had laid off and closed internal communications.
Apart from that, there is a movement of large amounts of assets that allegedly belong to Justin Sun by carrying out sales actions and Huobi is listing speculative tokens which for crypto twitter have a high possibility of dumping prices.
Huobi Fires 1,200 Employees
The Twitter account of crypto observer Wu Blockchain (@WuBlockchain) received information from an insider who said that as many as 1,200 Huobi employees were dismissed or around 40% and would leave 600-800 employees and cancel year-end bonuses.
However, Huobi adviser, Justin Sun, denied the issue of the layoff written in Chinese characters with the following reading,
Huobi layoff plans shared by the media went wrong. Huobi's business has developed very well recently, and newcomers every day have risen to the top of the industry. This is a vital era of development, and I'm sure it will get even better in 2023.
In the latest news, these rumors have been proven to be true, Huobi has confirmed plans to lay off 20% of its employees, as part of the ongoing restructuring following the acquisition of the company by Justin Sun.
“The planned layoff ratio was around 20%, but it is not being implemented now,” a Huobi spokesperson said in a statement to Cointelegraph on Jan. 6.
The representative emphasized that Huobi's alleged dismissal of 40% of employees was a rumour. Huobi has established a new organizational structure after new shareholders took over, the spokesperson said, adding that the company had adjusted business departments.
In its statement, Huobi also stressed that the recent media accusations of the bankruptcy of the cryptocurrency exchange were untrue.
Speculative Token Listing
Huobi recently listed speculative tokens such as the popular Pi Network (PI) on December 29, 2022 and Bonk on January 3, 2023. Even in the case of Pi Network, this listing was denied by Pi Network saying they had no cooperation regarding listings with exchanges. any crypto including Huobi.
The traded Pi Network is an IOU version and is invalid because there is no approval from the Pi Network. However, the price of the Pi Network touched a high of $330.65 before trading at $105.05, down -69% on January 6, 2023.
BONK showed a +2000% increase when listing on Huobi and then experienced a -50% decrease from its high price on the Huobi exchange.
Seeing this incident, crypto twitter speculates that Huobi is deliberately taking advantage of the popularity of certain crypto projects in listing and making it an opportunity to conduct token sales when retail has entered the market.
Movement of Assets Allegedly Belonging to Justin Sun
The Twitter account Look on Chain (@lookonchain) detected that Justin Sun's wallet withdrew assets totaling $100 million in USDC and USDT.
Additionally, there is the TRON wallet that borrowed 90 million TRX ($4.85 million) from the JustLend protocol and transferred it to Binance to open a SHORT position on the TRX pair. It is suspected that this wallet belongs to Justin Sun.
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