Huobi May Soon Lay Off Employees

Wu Blockchain tweeted that Justin Tron may soon begin mass layoffs at his newly acquired Huobi exchange
Tron is yet to issue any formal statement
Wu further shared how Huobi’s Chief and CFO have previously presented their acquiescence to Justin Tron

Following the alleged acquisition of Huobi by Tron crypto founder Justin Tron, the former CEO and CFO of Huobi have resigned, according to a tweet that was recently shared by journalist Colin Wu of Wu Blockchain.

Huobi’s crypto staff might be fired by Justin Tron soon. Wu Blockchain’s Colin Wu has provided new information regarding Huobi, a cryptocurrency exchange that Justin Tron, the founder of Tron Crypto, is said to have acquired.

Justin Tron’s team has taken control of all leading departments

Wu claims that Justin Tron’s team has taken control of the exchange’s most important departments and may soon begin mass layoffs to stabilize the market.

Wu also discussed Justin Sun’s belief that “there are too many people employed by Huobi” and that layoffs may be necessary for the exchange to function properly. There are currently 1600 Huobi employees employed by the exchange.

The cryptocurrency market is rife with rumors claiming that Tron has acquired Huobi. These rumors are fueled by rife speculation.

The platform’s recent decision to delist HUSD, a stablecoin, stoked the crypto rumor mill even further. According to the Wu blockchain, the primary objective of the decision to delist HUSD was to promote USDD, a stablecoin created by Tron Network’s Justin Sun.

Wu Blockchain asserts that Justin Sun, who recently announced his new position as Huobi’s global advisor, has already acquired the company.

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Justin Sun is actually the core investor of the M&A fund

Huobi announced that the controlling shareholder company has transferred all of the shares of HuobiGlobal held by the fund of About Capital Management, reads a Substack post that Wu blockchain uploaded.

However, Justin Sun is the primary investor in this M&A fund, according to multiple sources, WuBlockchain consulted. On October 8, Justin Sun himself was at the Singapore delivery location.

At the moment, Justin Sun is actively recruiting, and Huobi is also taking over some departments. The cost is about one billion dollars. However, Tron has not yet issued a formal statement confirming his acquisition of the Huobi cryptocurrency exchange.