Justin Solar denies that Huobi is planning layoffs

Justin Solar has acknowledged that the crypto trade Huobi just isn’t finishing up mass layoffs, in line with a report from the South China Morning Put up on Jan. 2.

The South China Morning Put up cited earlier studies from the Chinese language enterprise information outlet Jiemian, which obtained an inner assertion from Solar. That report, presumably written in Chinese language, couldn’t be situated.

Nonetheless, Solar’s assertion has been immediately quoted in different sources. Solar mentioned:

“The Huobi layoff plan shared by the media is inaccurate…Huobi’s enterprise has been rising exceptionally properly not too long ago, and its each day new arrivals have risen to the highest of the business. It’s a very important improvement period, and I imagine it will likely be even higher in 2023.”

Solar’s assertion countered a press release from an unverified Huobi insider who advised Jiemian that layoff rumors had been “considerably dependable” and mentioned that cutbacks had been underway.

Rumors of Huobi’s mass layoffs originated from Colin Wu, who operates the cryptocurrency information website Wu Blockchain. Wu initially reported on Dec. 30 that Huobi would halt its year-end bonuses. He additionally mentioned that the corporate would minimize its workforce from 1,200 to 600 or 800 and cut back senior worker salaries.

Wu didn’t cite any supply for these claims. Nonetheless, studies of the layoffs had been unfold by different websites, together with the competing trade Binance.

Wu has repeatedly unfold rumors of impending Huobi layoffs since at the least July of final yr. Huobi denied these rumors when Wu re-circulated his claims in November. At the moment, representatives acknowledged that “rumors of large-scale layoffs are unfaithful.”

It doesn’t seem that any of the rumored layoffs had been ever carried out — although Huobi might have carried out these layoffs silently or postponed the matter.

Solar’s statements this week presumably carry probably the most authority. Although Solar is greatest often called the founder and CEO of the TRON blockchain, he left the challenge in late 2021 and ultimately joined Huobi as an advisor in October 2022. Solar presumably has deep information of the corporate’s inside workings.

Along with his principal assertion, Solar mentioned on Dec. 29 that Huobi is hiring feminine staff as a part of its variety efforts. Nonetheless, that announcement doesn’t point out that Huobi’s workforce will enhance in dimension general.

Solar additionally commented on an unrelated subject ⁠— Gemini’s debt disaster ⁠— on Twitter at the moment. He known as present circumstances “a tough time for your complete crypto business” and mentioned Huobi stands with the crypto neighborhood.