Monday, 29th Aug 2022 – Founder & CEO of FTX, Sam Bankman Fried, has clarified today that they have no plans of acquiring the cryptocurrency exchange Huobi. Huobi is one of the world’s largest cryptocurrency exchange with over $1 billion in daily trading volume.
Huobi’s native token, Huobi Token (HT) is down 7% following the tweet.
On August 12th, Bloomberg reported that Sam Bankman Fried was in touch with Leon Li, the founder of Huobi, to acquire a majority stake in the latter for $3 billion. The report also mentioned that Leon Li was in touch with Justin Sun, the founder of Tron Network, who was also interested in acquiring a stake in Huobi.
Justin Sun later denied the report via a tweet.
In the recent months, FTX has extended lifelines to several troubled crypto companies including exchange BlockFi and lender Voyager Digital and could eventually acquire both firms in the future. Following this, it was speculated that FTX would be acquiring Huobi as well.
Discuss this news on our Telegram Community. Subscribe to us on Google news and do follow us on Twitter @Blockmanity
Did you like the news you just read? Please leave a feedback to help us serve you better
Disclaimer: Blockmanity is a news portal and does not provide any financial advice. Blockmanity's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Blockmanity won't be responsible for any loss of funds.
Circle of Games (COG)—Web3's multi-gaming platform has raised a $1mn round from Nazara, with participation…
Unconference Bali 2024, Asia’s premier Web3 event, is poised to take center stage against the…
Tradeleaf, a leading FinTech company empowering global trade through digital solutions, recently celebrated a significant…
Foundership Global Accelerator, a prominent force in the Web3 & Emerging-Tech Community boasting over 10,000…
April 16, 2024 - Condo, the world's first real-world asset (RWA) meme token, was recently…
The Partisia Blockchain Foundation, at the forefront of crafting privacy-enhancing and interoperable blockchain platforms, today…