Huobi Exchange CEO Responds to Haters and Provides Presents for the Chinese New Year

The internet has recently been awash with rumors pertaining to problems facing Huobi. Many of these rumors have revolved around their largescale layoffs, relocation issues, and financial constraints. But based on a new report recently released by Asia Crypto News, it appears as though Huobi is about to release its own stable coin.

According to a new report from Huoxing24, Li Lin, the Huobi CEO addressed these rumors by releasing measures that he believes will help restore and boost market confidence in his company’s token. Li Lin had initially responded to the allegations in question by firmly declaring that the issues were false and that they had been fabricated in bad faith.

Li Lin Response

While addressing the allegations in question, Lin was quick to point out that it is true that there are issues facing the company. However, the management issues, according to him are to be expected of any growing company. This is more so when the company in question has been growing exponentially over the last few months.

Huobi is a company that has grown exponentially within a very short time frame and has been able to open local subsidiaries in the Middle East, the United State, South Korea, and Japan. It has also gone ahead and opened business lines that include Fire China, Firecoin Cloud, Capital, Wallet, and Mine Pool.

Li Lin stated that on the issue of redundancies, the fire currency layoffs had been fabricated by as much as thirty percent. The CEO went on to state that the only way that enterprises and the media would be able to revere each other would be by ensuring that all reports being released to the public were truthful in nature, fair, as well as objective.

In addition to this, he noted that the poor financing reports were released as a result of shoddy journalism. He also addressed the token issue, which is something that many Huobi investors have come to care about of late. Given the prevailing market conditions, many tokens, including Ethereum and Bitcoin have suffered a major price cut. And Huobi has not been left behind.

Looking at the pricing information available for the past year, one can clearly see that Huobi has undergone the least cut. Ethereum prices have shrunk by close to a third, which is the same case that Bitcoin has had to deal with in the past month. In a bid to show that things were okay with the company operations, the CEO stated that he would release twenty million Huobi Coin Tokens in form of red packets.

Measures to Be Used in Boosting Investor Confidence

Li Lin released a raft of five measures that will be applied to boost investor confidence in the coming months. The Huoxing24 stated that the measures include:

  1. Do an excellent job in contract business and in exchanges
  2. Postpone the HT thaw
  3. Launch a Huobi public blockchain
  4. Increase the number of managers purchasing HT
  5. Accelerate the introduction of business-based applications, e.g., Fire Letters

These measures are quite interesting, as the launch of a public blockchain would mean that Huobi was looking to compete more directly with EOS, from Ethereum.

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