Breaking: Huobi Seeks To Sell 60% Stake; SBF, Justin Sun In the Race
Huobi founder Leon Li is reportedly seeking to sell most of his stakes in the exchange. This deal can be valued at around $3 billion making it the largest buyout in the crypto market history.
SBF to takeover Huobi?
According to Bloomberg’s report, Huobi’s chief had multiple dialogues with financiers. He is seeking to sell around 60% of the Shares. However, Sam Bankman-Fried’s FTX and Tron founder Justin Sun are reportedly in the race to grab this opportunity. They have been in preliminary contact with Huobi regarding the share transfer.
A Huobi spokesperson gave out the confirmation regarding the deal. However, he declined to give specific details. It mentioned that Leon Li is meeting several international entities concerning the stake sale.
The spokesperson highlighted that Li hopes that the new shareholder will bring more power and resources to the exchange. While they will value Huobi as a brand and indulge more capital in it.
The report stated that FTX’s spokesperson declined to comment on the matter. However, Justin Sun replied in a text message. He said that he hasn’t had any negotiations with Huobi Cheif regarding the sale.
Is this a crypto meltdown effect?
Earlier, the exchange’s backers ZhenFund and Sequoia China mentioned Li’s decision in a shareholder’s meeting. They said that a deal can be done by the end of July. While one shareholder suggested that Huobi’s chief is seeking a valuation near $3 billion. This suggests that the deal could be valued at over $1 billion.
It added that it is still unclear whether this takeover will involve Huobi Technology Holdings Ltd which is listed in Hong Kong. The firm is the affiliate than holds a license issued by Hong Kong’s securities regulator and manages digital assets investments for the investors.
Meanwhile, some of the crypto biggies are taking advantage of this recent market meltdown by buying troubled firms.
- Breaking: Michael Saylor’s Strategy Adds 220 Bitcoin Amid Crypto Market Dip
- Breaking: China Renaissance Bank Eyes $600M Raise for BNB-Focused Fund with YZI Labs
- Just-In: XRP Sees Strong Institutional Interest as ETF Approval Countdown Begins
- HYPE Token Gets Major Boost as Hyperliquid Launches HIP-3 Upgrade for Perp Market Creation
- BNB Price Soars 16% to Hit New ATH amid Changpeng “CZ” Zhao’s Bullish Push
- Bitcoin Price Mirrors March 2020 Crash as US–China Trade Easing Fuels Recovery
- PEPE Coin Price Reenters Historical Demand Zone as Whales Accumulate $5M— Can It Repeat Its 123% Rally?
- Bitcoin Price Prediction as Trump’s Tariff Shock Triggers $19B Liquidation
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
