Huobi to Cut Staff by 20% in Q1
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Cryptocurrency exchange Huobi is planning to cut as much as 20% during Q1 as part of its "structural adjustment," TRON founder, Justin Sun, told Reuters. The layoffs haven't started yet, meaning the details remain unclear.

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In a letter to Huobi staff, Sun said the exchange was like a "fire in the (crypto) winter." However, the "short-term pains" are inevitable due to the deteriorating macro environment, he added.

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In October 2022, Sun said he owns "tens of millions" huobi tokens (HT), which he started buying back in 2013. Although Sun declined to specify the exact number, he said he was considering himself as "one of the biggest [HT] holders."

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