Huobi Korea to Part Ways with Parent Company: Report
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Huobi's Korean arm, Huobi Korea, wants to cut ties with its parent company by acquiring 72% of its shares from Huobi Global, a local Korean news outlet News1 has learned.

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According to the report, the Korean arm wants to buy out shares from Leon Lin, the founder of Huobi Global, and continue its operations under a different name. The timeframe of the plans remains unclear.

Justin Sun: Huobi Has No Problems

The news comes amid reports that Huobi plans to lay off 20% of its staff in Q1 as part of its "structural adjustment." In a letter to Huobi staff, TRON founder, Justin 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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