According to Wu Blockchain, to regulate transactions on the platform and employees’ investments, and prevent insider trading, “rat warehouses” and other acts, “Regulations governing investment behavior of Huobi Group employees” was built. It will go into effect on November 23, 2022.
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As was updated in the previous article of Coincu News, due to lax management, power is concentrated in the hands of a management department, pushing Huobi into the whirlpool of death.
CEO Zhu Hua was criticized and said that he was the one who caused the crypto company to suffer huge losses in 2022, specifically the company had to suffer a loss of up to $150 million, and this is also the main reason why the founder of this exchange, Leon Li, is in talks with a group of investors to sell most of his shares at a possible valuation of up to 3 billion dollars.
Justin Sun, who is suspected to be the true owner of Huobi after the acquisition in early October, is taking over the company as a global consultant in the effort to rebuild the empire.
Recently, Huobi issued an internal letter reorganizing the company into 17 departments that report to Justin Sun and other committees. Some of the new leaders are former employees of TRON.
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