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Huobi Might Get a New Owner, FTX Among Potential Buyers – Report

12 Aug 2022
? 1 min read

Source: Adobe/piter2121

Huobi Group founder Leon Li is in talks to sell his roughly 60% stake in this major crypto exchange, while Tron (TRX) founder Justin Sun and Sam Bankman-Fried‘s FTX exchange are being mentioned among those who’ve had preliminary contact with Huobi.

In the deal, which could be completed as soon as the end of this month, Li is seeking a valuation of between USD 2bn – USD 3bn, meaning a sale could fetch upwards of USD 1bn, Bloomberg reported, citing undisclosed “people familiar with the matter.”

A Huobi spokesperson confirmed that the talks are ongoing, while an FTX spokesperson declined to comment, and Sun told Bloomberg that he hasn’t had any negotiations with Li about a sale.

“[Li] 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 of Huobi was quoted as saying.

Trading volume on Huobi surpassed USD 1bn in the past 24 hours, per CoinGecko data.

Trading volume on Huobi in the past year:

Source: CoinGecko

____Learn more: Coinbase, Binance, and Kraken Take Top Three Spots in Updated Crypto Exchange RankingFTX Proposal is a ‘Low-ball Bid Dressed Up as a White Knight Rescue’ – Voyager

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