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Source: Adobe/piter2121 Major crypto exchange Huobi Global has denied mass layoff claims and allegations that two of its top executives have resigned.  In a tweet on October 29, prominent Chinese journalist Colin Wu claimed that the company&rsquo ;s CEO Leon Li and chief financial officer Chris Lee have resigned. Citing people familiar with the matter, he said the crypto exchange is also preparing for "large-scale layoffs."  "Justin Sun's TRON team has taken over important departments of Huobi. Huobi has 1,600 employees, Justin Sun believes that there are too many people, and there may be large-scale lay offs," Wu said.  However, a spokesperson has reportedly  denied&nbsp ;the claims, noting that rumors regarding upcoming mass layoffs are “untrue” and that its senior management continues to perform their duties “as per normal.” “Huobi Global’s senior management team is performing their duties as per normal,...

Join Our Telegram channel to stay up to date on breaking news coverage The crypto industry has been suffering losses for nearly a full year now, and while the value of coins has gone down quite a bit from November 2021 levels, the development and adoption are progressing at a rapid pace. Over the years, plenty of financial services from the traditional finance sector were claiming that crypto is a scam, doomed to fail and that they would not touch it, which is slowly starting to change. Banks are getting more and more involved, services like PayPal now have their own crypto section, and Western Union seems to be turning back to crypto after past failed attempts to get involved, judging by the recently filed trademark applications. New trademark applications reveal the company’s potential plans According to the applications, the company seems to be making new attempts to enter deeper into the crypto market . So far, it has had limited success, but this might start to cha...

Disclaimer: The Industry Talk section Features insights by crypto industry players and is not a part of the editorial content of Cryptonews.com. Serial entrepreneur and CEO of SIMBA Chain (short for Simple Blockchain Application), Dr. Bryan Ritchie, discussed the US Government's role as a leader in blockchain adoption for several of its branches, including the US Air Force and the US Space Force.  How SIMBA is Solving Web3 Adoption Hurdles   Dr. Ritchie believes blockchain has the power to solve real-world problems across different fields, but the technology is hard to implement in current systems. Since blockchain, and by extension Web3, is a nascent technology, there aren&rsquo ;t many developers with the proper skill set. Therefore finding specialized talent in the subject is difficult, and the cost is usually high.  This is where SIMBA Chain plays a key role —a Web3 developer platform primarily designed for non-blockchain experts and devel...