Justin Sun
Tron Founder Justin Sun (Source: CNBC)

Huobi May Soon Lay Off Employees Under Its Rumored CEO Justin Tron’s Leadership: Report

  • As per a tweet shared by Wu Blockchain, Justin Tron may soon initiate mass layoffs in his newly acquired exchange Huobi.
  • Wu further shared how Huobi’s CEO and CFO have already submitted their resignations to Justin Tron.

Per a recent tweet shared by Wu Blockchain’s journalist Colin Wu, the former CEO and CFO of Huobi have submitted their resignations to Justin Tron’s team following the alleged acquisition of Huobi by Tron crypto founder Justin Tron.

Justin Tron May Soon Sack Huobi’s Crypto Staff: Report

Wu Blockchain’s Colin Wu has shared new details about Huobi, a cryptocurrency exchange that has reportedly been acquired by Tron Crypto founder Justin Tron.

According to Wu, Justin Tron’s team has taken control of all leading departments of the exchange and may soon initiate mass layoffs in a bid to stabilise the exchange.

Wu also shared how Justin Sun believes that “there are too many people employed by Huobi” and that the exchange may require lay-offs for better functioning. At present, Huobi currently has 1600 employees working for the exchange. 

With speculation running rife, the crypto market is brimming with rumours claiming that Tron has acquired Huobi. The platform had recently announced its decision to delist its stablecoin HUSD, which fueled the crypto rumour mill up a notch. As per Wu blockchain, the decision to delist HUSD has been taken primarily to promote USDD, a stablecoin founded by Tron Network’s Justin Sun.

Wu Blockchain alleges that Huobi has already been acquired by Justin Sun, who recently took to Twitter to announce his latest role as Huobi’s global advisor. 

Per a Substack post uploaded by Wu blockchain, “Huobi announced that the controlling shareholder company has transferred all the shares of HuobiGlobal held by the fund of About Capital Management. But WuBlockchain learned from multiple sources that Justin Sun is actually the core investor of this M&A fund.Justin Sun himself was at the delivery site in Singapore on October 8. At present, Justin Sun is vigorously recruiting, and some departments of Huobi are also taking over. The price is about $1 billion.”

However, Tron is yet to issue any formal statement that confirms the fact that he has successfully acquired the Huobi cryptocurrency exchange.