Billionaire Crypto Mogul Justin Sun Denies Rumors on Huobi Exchange Stake Sell
Billionaire crypto entrepreneur Justin Sun has denied claims that he is considering divesting his stake in the global cryptocurrency exchange Huobi.
"As much as I love a good April Fool's Day prank, I must deny the report that Huobi Global is seeking a stake buyer," the Tron Founder wrote on Twitter on April 1, adding that the platform aims to provide “a safe, reliable, and innovative platform.”
The revelation came after a Bloomberg report claimed that Sun has held talks about selling his stake in Huobi Global, citing a person with direct knowledge of the matter.
The report further claimed that Sun has contacted some potential investors over the past weeks. At the time, it wasn’t clear what valuation the 32-year-old Chinese native was seeking for the company, or how big a stake was being offered.
It is worth noting that Sun’s involvement with Huobi has been cloaked in mystery.
In December last year, Huobi founder and controlling shareholder Leon Li Lin announced that he was selling his entire stake in the Seychelles-based crypto exchange to About Capital Management, a Hong Kong-based assets management company.
Tron founder Justin Sun, who reportedly spearheads the management firm, confirmed back then that he would be joining the Global Advisory Board of Huobi Global.
However, China-based journalist Colin Wu claimed that Justin Sun was the core investor in About Capital, suggesting that he was the real buyer of the stake (which the report estimated to be around $1 billion).
"WuBlockchain learned from multiple sources that Justin Sun is actually the core investor of this M&A fund," the report said, adding that the Tron founder was at the delivery site in Singapore on October 8 where the deal took place.
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