FTX has no plans to buy crypto exchange Huobi, says CEO Bankman-Fried
Quick Take
- The CEO of FTX said that the company has no plans to buy crypto exchange Huobi.
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FTX is among a list of investors that reportedly had “preliminary contact” with Huobi as its founder looks to sell about 60% of its shares according to Bloomberg.
FTX is not planning to acquire crypto exchange Huobi, the company's founder and CEO Sam Bankman-Fried said on Twitter.
Bankman-Fried's comment follows a recent Bloomberg article naming FTX and Tron founder Justin Sun among a list of investors that have had "preliminary contact" with Huobi as its founder Leon Li looks to sell about 60% of the company.
Li is seeking a $2 billion to $3 billion valuation for the company and has reached out to "several international institutions," according to Bloomberg.
But following the publication of that report, Bankman-Fried took to Twitter to quash the idea of his firm's involvement.
"No, we are not planning to acquire Huobi," Bankman-Fried wrote. "Apparently a lot of people are saying this."
FTX has recently sought to acquire a series of troubled crypto firms amid crypto winter. For instance, it gave financial services firm BlockFi a multi-million-dollar bailout.
FTX US, the American subsidiary of global crypto exchange FTX, also recently announced that it is acquiring Canadian crypto trading platform Bitvo.
Tron founder Sun issued a similar denial, tweeting that "[w]e have not engaged any matters related to the Bloomberg story at this moment."
Editor's Note: Updated with a Twitter response from Tron founder Justin Sun.
Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.
© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
