Justin Sun In Talks To Sell Huobi Stake: Report

2023-4-2 13:28

The founder of Tron network and popular crypto figure Justin Sun is reportedly engaging in talks about selling a stake in the crypto exchange Huobi Global. According to a report by Bloomberg, this development was revealed by a person that is close to the matter.

Bloomberg reports that Sun has been meeting with potential investors trying to gauge their interest in Huobi. However, it remains unknown how large of a stake is to be sold or the valuation at which such a stake will be sold.

A Bloomberg insider disclosed that the deal is still in its “early stages”, and it cannot be said if any of these potential investors will proceed with the acquisition. 

Based in Singapore, Huobi Global is one of the biggest digital assets exchanges in Asia, offering support for over 400 cryptocurrencies. However, the company experienced significant losses in recent years following the crypto ban in China in 2021.

Justin Sun Rejects Huobi Sale Rumors

Reacting to Bloomberg’s report, Justin Sun tweeted, dismissing the news as an “April Fool’s Day prank”. 

He said, “As much as I love a good April Fool’s Day prank, I must deny the report that @HuobiGlobal is seeking a stake buyer. Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency.”

For many, Justin Sun’s relationship with Huobi is a complicated one. The Chinese man is well known for continuously denying owning any stake in Huobi Global, referring to himself as only an “adviser” to the exchange. 

However, it is common knowledge that Huobi’s co-founder Leon Li sold his controlling stake (60%) for $1 billion last year to About Capital, a Hong Kong-based investment firm whose core investor is the Tron founder.

Moreover, Sun has used about $200 million of his personal money to keep the company afloat since the beginning of the year. In addition, he is known to work at Huobi’s head office in Singapore and represent the company in media interviews.

Sun Still In Legal Battle With SEC

In other news, Justin Sun is currently facing charges filed against him by the United States Securities and Exchange Commission.

Earlier in March, the SEC filed a lawsuit against the Tron founder for selling TRON (TRX) and BitTorrent (BTT), both of which it considers unregistered securities. The lawsuit also included charges of fraud based on alleged fake trading activity for both cryptocurrencies. 

Justin Sun has denied both charges while saying the SEC’s regulatory framework is still in “infancy and needed further development”. In recent months, the SEC has been on a regulatory mission with charges against prominent crypto entities, including Paxos, Gemini, Kraken, etc. 

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Huobi Token (HT) íà Currencies.ru

$ 0 (+0.00%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 0.00 %, 7d: 0.00 %
Cåãîäíÿ L: $0 - H: $2.4049
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 3.6693 (-100%)

justin report stake crypto sun huobi talks

justin report → Ðåçóëüòàòîâ: 59


Tron hits a home run in the DApp game, beating EOS and ETH in weekly trading volume

The grass is greener on Tron’s side due to the series of successful events the network witnessed from the time it entered the DApp game. Justin Sun, founder and CEO of the Tron Foundation shared a DApp review report on Twitter with the community, suggesting that Tron had surpassed the sum of the volume of […] The post Tron hits a home run in the DApp game, beating EOS and ETH in weekly trading volume appeared first on AMBCrypto.

2019-7-22 12:30


Tron Weekly Report highlights rise in DAU, transaction numbers and volume

Tron community was delighted with the TRX token surging by 6.12% over 24 hours, according to CoinMarketCap. The market cap of TRX was $1.68 billion, at press time. With just one week to go for Justin Sun’s lunch with Warren Buffett lunch, Jeremy Allaire, Co-founder & CEO of Circle, accepted Sun’s invitation for the star-studded […] The post Tron Weekly Report highlights rise in DAU, transaction numbers and volume appeared first on AMBCrypto.

2019-7-20 02:30


Tron Weekly Report: DApp progress on show as Justin Sun reveals future plans

Tron’s updates and developments have been treated with great positive fervor by the community and that has been evident in the user engagement between ‘Tronics. ’ Justin Sun, CEO of the Tron Foundation, has ensured that the community knows about everything going on within the cryptocurrency organization, something evidenced by the latest Tron Weekly report.

2019-7-2 00:30


Tron DApp Weekly Report: DApp numbers continue to rise as EOS, ETH fail to catch up

The Justin Sun-led Tron Foundation has been in the news multiple times over the past few weeks due to the sheer number of updates and developments in the cryptocurrency’s ecosystem. One key area of interest for the organization has been the Decentralized Application [DApp] space, an area where Tron managed to beat bigwigs like Ethereum […] The post Tron DApp Weekly Report: DApp numbers continue to rise as EOS, ETH fail to catch up appeared first on AMBCrypto.

2019-6-28 21:30


DAI stablecoin recorded growth rate of approximately 20% per month in 2019, claims Maker Dao report

Since the start of 2019, stablecoins have found a new level of importance following the involvement of major financial and non-financial institutions such as JP Morgan Chase and Facebook. Justin Sun, CEO of TRON Foundation, had also spoken highly about the significance of stablecoins on various occasions and despite the Tether-Bitfinex fiasco, the popularity of […] The post DAI stablecoin recorded growth rate of approximately 20% per month in 2019, claims Maker Dao report appeared first on AMBCrypto.

2019-6-10 15:30


Tron’s [TRX] Delegated Proof of Stake mechanism sets it apart from its competitiors, claims Binance report

Tron [TRX] and its slew of developments have caught the eye of several proponents in the cryptoverse, with the Justin Sun-led company claiming to be the spearhead for Web 4.0. Tron’s popularity in the world of digital assets was again asserted after Binance, the world’s largest cryptocurrency exchange in terms of trading volume, drafted a […] The post Tron’s [TRX] Delegated Proof of Stake mechanism sets it apart from its competitiors, claims Binance report appeared first on AMBCrypto.

2019-5-1 16:30


Tron DApp Weekly Report: Developers shift focus to DApp gameplay, strategy as gaming, gambling apps soar

The Tron Foundation and CEO Justin Sun have been working on developing a world-class DApps network and if their weekly reports are to be believed, they might be inching closer to that goal. Tron Foundation released its DApps Weekly report on April 12 and informed the Tron community about the progress in the DApps ecosystem, […] The post Tron DApp Weekly Report: Developers shift focus to DApp gameplay, strategy as gaming, gambling apps soar appeared first on AMBCrypto.

2019-4-13 16:30


Ôîòî:

More Dapps Launched and Increased Transactions on the Tron Network, Highlights Tron’s Dapp Weekly Report

On Nov. 30th, Tron published its Dapp weekly report running from Nov. 24th to Nov. 30th, and it paints a good picture about the Justin Sun-led blockchain protocol. Tron, a blockchain platform designed for the development of decentralized apps (Dapps) publishes the weekly report to give insights to its community and potential users about how […] More Dapps Launched and Increased Transactions on the Tron Network, Highlights Tron’s Dapp Weekly Report was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-12-2 15:59