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The Biggest Crypto Deal: Huobi Founder Sells Majority Stake
HomeNewsThe Biggest Crypto Deal: Huobi Founder Sells Majority Stake

The Biggest Crypto Deal: Huobi Founder Sells Majority Stake

Daniela Kirova
Daniela Kirova
January 31st, 2023
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  • This would put the exchange’s value at a minimum of $3b
  • Li has been talking to Sam Bankman-Fried and Justin Sun
  • Huobi Token gained more than 20% on the news

Leon Li, the founder of crypto exchange Huobi, is holding preliminary talks with investors about selling his majority share in the company. According to a Bloomberg report cited by CoinDesk, this would put the exchange’s value at a minimum of $3 billion.

60% Stake

Li’s stake in Huobi is nearly 60%. He has been talking to FTX founder Sam Bankman-Fried and Tron founder Justin Sun, the report said, citing insiders.

If the deal goes through, it could be the biggest ever in the crypto industry irrespective of the current bear market.

Huobi Token Soared on the News

The exchange’s native currency, Huobi Token, gained more than 20% on the news.

From a Dream to a Leading Digital Asset Service

Li founded Huobi Group in 2013. He took over management of the company and transformed it into a leading digital exchange service and global player in financial services in general.

Huobi was cofounded by Jun Du, previously community operations director at Comsenz. He also worked at Tencent.

About Leon Li

Leon Li has been in the crypto business for over a decade. He became an avid supporter of Bitcoin in 2011, after he graduated from Tsinghua University. His career started as a computer engineer at Oracle, the world's biggest database service.

Image source: https://www.123rf.com/profile_stlegat'>stlegat</a>

Contributors

Daniela Kirova
Writer
Daniela is a writer at Bankless Times, covering the latest news on the cryptocurrency market and blockchain industry. She has over 15 years of experience as a writer, having ghostwritten for several online publications in the financial sector.