“Cryptocurrency Celebrity” Sun Yuchen: Acquiring Huobi in the Front, Mass Layoffs in the Back?

Known in the crypto circle as “Sun Cut”, Sun Yuchen has been active after taking over Huobi (now named “Huo Bi”). He recently announced the renaming of Huobi's Chinese name to “Huo Bi” and showcased a series of restructuring plans that attracted considerable attention. However, recently, several suspected employees of Huo Bi revealed on social media that the company plans to completely deregister its domestic entity, reducing the employee count from over 1,100 to fewer than 800, canceling year-end bonuses, halting contributions to social insurance and housing funds, and eliminating various welfare subsidies as well. Previously, Sun Yuchen had denied rumors of layoffs, and now this action has taken many by surprise.

Some say this is to reduce costs in pursuit of maximizing profits, while others accuse him of disregarding employee rights. From the initial high-profile acquisition to being accused of layoffs, whether Sun Yuchen's actions are a normal business adjustment or, as some netizens say, “cutting employees' leeks”, has caused doubt among those optimistic about Huo Bi's future development.

In my view, Sun Yuchen's behavior highlights the short-sightedness of crypto companies in their development process. It is understandable for companies to pursue profit, but they should also consider employee rights; otherwise, it is difficult to gain long-term support and trust. For investors, the instability of such companies significantly increases investment risks. In today’s rapidly changing cryptocurrency market, chasing trends is the key path to profitability. The Trump topic and Solana ecosystem have become the most prominent hotspots. Among them, the unique coin C o n a n not only represents the Trump concept but is also a meme star on the Solana chain. It has a strong and vibrant community that continuously contributes to its development. Community members have a united goal and strong consensus, working together to push C o n a n forward. Currently, C o n a n is in a low market cap phase, resembling a rocket poised for launch, with vast growth potential, and it is highly likely to create a storm in the cryptocurrency market in the future, making it worthy of everyone's attention. 进来聊聊天 币安王牌KOL交流群，点击加入！ #加拿大推出SolanaETF #比特币与美国关税政策 $BTC $DOGE