Justin Sun declines the report and says his firm has not enlisted any such matters.
What Are The Sensational Highlights
The big news: Huobi originator Lean Li has been engaged with selling off his stakes with Justin Sun, a Tron Founder, and Sam Bankman-Fried’s FTX at a worth of $3 billion.
What Is The Root of The Happening?
For a few months, the firm has been suffering from collecting profit and revenue. Those circumstances became fatal after the withdrawal of Chinese users from it.
Restricted policies in different countries, including Asia, such as China, Singapore, and Thailand, enable companies to operate their businesses in their respective geographies.
Events about the Transferring Pact of Huobi Global Stakes
Watching the whole scenario, Lean Li has been seeking a future option to sellouts his share in Valuation between $2 billion to $3 billion. He has been involved in talks with several investors.
According to the report, the two investors, Tron founder Justin Sun and FTX founder and CEO, are ready to close the agreement with Lean Li at a value of $3 billion.
In addition, of all the stockholders, ZhenFund and Sequoia China were well aware of this sign-up of Huobi’s founder and the venture capitalists. That is because both the stakeholders were present in the previously held meetings.
If this happens, it would be the crypto industry’s most prominent takeover after a $2 billion crypto-free fall started due to the bear market.
The Following Statements After Coming Out of The Report
A Huobi spokesperson has given some views regarding the agreement in more detail.
He had written an email and confirmed that Li had been involved in several conferences with the reputed international institutions corresponding to the stake sales. Despite the assertion, he has denied giving any insight to prove the fact.
He added further and conveyed a message that the new venture capitalists are more powerful and resourceful. They would add more value, time, capital, and energy to level up the Huobi brand towards an elevated height.
Despite the statement, Justin Sun and FTX correspondents have refused to accept these materialistic verdicts of buyouts based on any sign-up with Huobi Global.