Huboi Global crypto exchange could see one of the most important moves that the crypto space saw lately. Check out the latest reports involving the exchange below.
One of the greatest crypto moves
Leon Li, the founder of crypto exchange Huobi Global, is reportedly in talks to sell a majority stake in the company in a transaction that would value the firm at $3 billion or more, Bloomberg reported the past Friday.
As CoinDesk notes, Li is looking to sell almost 60% of the firm.
It’s also worth noting the fact that it has held preliminary talks with Justin Sun, founder of the Tron blockchain network, and FTX, the crypto exchange founded by billionaire Sam Bankman-Fried, the report said, citing people familiar with the matter.
In a tweet, Sun denied any involvement and Huobi made sure to drop a comment as well.
Check out the following tweet.
We have not engaged any matters related to the Bloomberg story at this moment.
— H.E. Justin Sun🌞🇬🇩 (@justinsuntron) August 12, 2022
The prestigious online publication mentioned above also notes that Seychelles-based Huobi is one of the world’s largest crypto exchanges with a daily trading volume of over $1 billion, according to CoinGecko.
They also said that such a deal would be one of the biggest ever in the crypto industry.
“The downturn in the crypto market has forced many of the biggest firms in the industry to cut costs and jobs, but this could be the first instance that one of those firms sells a majority stake.”
Bloomberg noted that a Huobi spokesperson confirmed that Li’s engaging with several international institutions about the stake sale, but declined to offer specifics.
“He hopes that the new shareholders will be more powerful and resourceful, and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi,” the spokesperson said in an emailed statement as reported by Bloomberg.