Crypto exchange Huobi has reportedly cut its workforce by 20%. The layoff is part of the firm’s efforts to restructure the business after Justin Sun took over the exchange. According to the exchange’s spokesperson, the move aims to optimize its structure and improve efficiency in the midst of crypto winter. Sun has previously denied allegations of the firm’s purported insolvency and said user assets were fully protected. He also promised that the exchange will fully respect the legal demands of local employees.