Huobi Founder Plans to Sell 60% of the Exchange.
Huobi founder Leon Li has been in talks with many investors, including FTX exchange (FTX) and TRON founder Justin Sun to sell the company’s shares. According to Bloomberg, Li targets a valuation of $2 billion to $3 billion. That means he could personally make $1 billion from the sale. If the deal goes through, it could be one of the most significant acquisitions in the cryptocurrency industry. A spokesperson for Huobi confirmed that Li was in talks with many institutional investors about the sale. However, despite reports to the contrary, TRON founder Justin Sun has denied ever collaborating with Li regarding the sale. Following this news announcement, Huobi’s token HT rose about 25% from $4.48 to $5.46.
For those unfamiliar with Huobi, it is a global cryptocurrency exchange located in Seychelles. The exchange was founded in 2013 in China by Leon Li, a former computer engineer in Oracle, the world’s largest database service provider. Huobi presents a safe and legitimate crypto asset platform that has listed 348 coins and tokens so far. Huobi has over 195 million users worldwide and has branches in Hong Kong, Japan, South Korea, Australia, Canada, and Brazil.
Source: www. Pipsafe.com