Justin Sun von Tron confirms 20 % discharge at Huobi
Justin Sun von Tron confirms 20 % discharge at Huobi
In order to survive the unprecedented turbulence on the market, Huobi is the youngest company that introduces job cuts. The crypto exchange plans to relieve about 20 % of its employees, a step that was confirmed by the founder of Tron and a member of the global advisory board of Huobi-Justin Sun-.
in an SMS to Reuters said that the "structural adaptation" has not yet started and is expected to be completed by the end of the first quarter of this year.
"Ignore the fud"
The confirmation comes hours after SUN has dispelled the investors' concerns and asked the community to ignore the fud, which repeats the words of Binance CEO CZ.
The FTX-induced infection has affected several companies in recent weeks. Recently, speculation about the job cuts in Huobi and disputes in internal communication rang the alarm bells and triggered considerable withdrawals from investors. According to Defillama, Huobi has recorded an outflow of more than $ 85 million in the last 24 hours alone, which brought its weekly drains to almost $ 136 million
While he was asking rumors about a possible bankruptcy, SUN said:
"In conclusion, it can be said that our strategy at Huobi is to" ignore and continue to build fuded ". By staying true to our mission, investing in technology and security and listening to our users, we can offer our users a trustworthy and reliable platform for purchase, sale and trade in cryptocurrencies. "
Sun previously referred rumors about mass layoffs in Huobi after the Chinese reporter Colin Wu back claims that the stock exchange wanted to delete all bonuses at the end of the year in view of a ongoing industry.
Huobis proof-of-reserves
The recently published Proof-of-Reserves from Huobi showed that the crypto exchange ran most on their own tokens to describe their reserves. Caue Oliveria, one of the authors analysts of Cryptoquant, Around 44.36 % of his capital in HT are allocated and described his reserves as "currently very risky".
The low allocation of stablecoins was another warning signal that, according to Oliveria, is unfavorable for the crypto exchange.
"According to the data collected by Cryptoquant, around 44.36 % of its capital in HT, an own cost of a property issued by the platform. Would this stock exchange be the next crash? This type of risk can put the sustainability of the platform under pressure if it has high withdrawals as with FTX."
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