According to Reuters, Sun Yuchen said that Huobi plans to lay off about 20% of its staff, and the structural adjustment has not yet started and is expected to be completed in the first quarter. Previously, according to reports from Wu Shuo Blockchain and CoinDesk, due to the recent large layoffs, Huobi stated that it would use the stable currency USDT/USDC instead of legal currency to pay employees’ wages, and closed the internal employee communication group, blocking all communication and feedback channels with employees, causing employees to worry and protest.