Crypto exchange Huobi has said layoffs are a “possibility.”
Huobi was responding to a tweet from Chinese outlet Wu Blockchain that claimed the company could lay off as much as 30% of its workforce.
The move was said to be due to a sharp drop in revenue.
Founded in China in 2013, but now based in the Seychelles, Huobi claims over 10 million users globally. On LinkedIn, it lists its company size as between 1,001 and 5,000 employees.
Should it announce layoffs, Huobi will not be the only exchange to do so in recent weeks.
Gemini slashed around 10% of its workforce at the beginning of this month.
Coinbase also laid off 18% of its staff, or around 1,000 people, after admitting it had “over-hired.”
Bybit has also confirmed plans to lay off staff but has not said how many.
