Huobi Global founder is in talks to sell a majority stake in the cryptocurrency exchange. The deal could be one of the largest in the history of the crypto industry.
Leon Li, the founder of Huobi Global, intends to sell nearly a 60% slice of the company. According to Bloomberg, he is in talks with a group of investors, including Tron founder Justin Sun and FTX head Sam Bankman-Fried. Li’s stake in Huobi is estimated to be at least $1 billion, and the deal could be finalized as early as the end of this month.
Representatives of the cryptocurrency exchange confirmed negotiations on the sale of a majority stake, but the details were not disclosed. In turn, Justin Sun denied his participation in the negotiations, and FTX representatives refrained from any comments.
The sale of Huobi could be the largest acquisition in the industry. The crypto winter has forced many cryptocurrency firms to sell their shares to large corporations. Sam Bankman-Fried, in particular, has already been spotted in this type of acquisition.
Huobi Global is among the biggest cryptocurrency exchanges. According to CoinMarketCap, as of 16:00 (GMT+3), August 12, the daily trading volume on the exchange is about $1 billion, and the site is in the top 10 by a set of factors. The exchange’s cryptocurrency Huobi Token (HT) reacted to the sale of the company’s shares, skyrocketing 27% to about $5.8.
