Huobi To Restructure Into Multiple Departments Reporting To Tron Founder, Leak Reveals

A leaked Huobi internal letter revealed that the Seychelles-based cryptocurrency exchange will restructure and become multiple departments, all of which will directly report to Tron founder Justin Sun, according to a well-known crypto journalist.

Chinese journalist Colin Wu revealed in a post on Twitter that Huobi sent an internal letter, notifying that it is making an adjustment to its organization. The company's alleged restructuring includes transforming the company into 17 departments, all of which report to Sun.

These departments reportedly have new leaders who are former employees of the blockchain-based decentralized digital platform Tron. The departments include "spot, contract, fiat, assets, dex, NFT, liquidity, PR, finance, security, risk control, audit, international, procurement, HR, GR," among others, Wu wrote on Twitter.

"Huobi issued an internal letter to adjust the company's organization and set it up as 17 departments to report to Justin Sun and other committees. Some of the new leaders are former employees of TRON. Exclusive," the tweet read.

The news came on the heels of online rumors claiming that Sun officially took control of Huobi on Monday. Huobi CEO Zhu Hua and Huobi PR/GR head Chen Dai reportedly resigned following the takeover.

"Wu said that on November 15, the former Huobi CEO Zhu Hua had officially resigned, and the former Huobi PR/GR head Chen Dai also bid farewell to Huobi in the Moments. On November 4, the former Huobi CFO Zhang Li resigned. The Justin Sun team has now fully taken over the Huobi business," the tweet from the Twitter handle @wublockchain12 read.

Last month, Huobi founder Leon Li announced that he has sold his entire controlling stake to Hong Kong-based About Capital Management. In the same month, Sun joined the company as a strategic advisor.

At the time, Huobi's native tokenHuobi Token (HT) saw an 8% surge following Sun's onboarding. There were also rumors circulating online that Sun is the real buyer of Li's stake, and he is one of the core investors of About Capital Management. Sun denied these rumors.

The International Business Times could not independently verify this information, and other media reports haven't backed up this news with independent reporting. We have also reached out to Huobi Global to get its response surrounding these claims, and we will update this article as soon as we hear from them.

Last week, Huobi clarified that it does not have any investment exposure in FTX. In an announcement made on Nov. 12, the CEX said, "Huobi Global does not have any investment or exposure in FTX. The user assets reserve rate is over 100%. Huobi has completed over 30 B USD of user funds redemption from mainland China withdrawals. Huobi just finished the 100% Merkle tree fund reserve audit last month because of the acquisition and we will do it again within the next 30 days."