The founder of crypto exchange platform Huobi is reportedly looking to sell his shares of the Seychelles-based firm for a over billion dollars.
According to a new report by Bloomberg, Huobi founder Leon Li is in talks with investors to sell about 60% of his stake in the company that’s seeking a valuation of $3 billion.
According to the report, the sale of Li’s shares could amount to as low as $1 billion if Huobi is valued at the low-end of the range at $2 billion.
Anonymous sources familiar with the matter told Bloomberg that FTX CEO Sam Bankman-Friend and Tron founder Justin Sun were among the people who showed interest in purchasing the shares.
While an FTX spokesperson declined to comment, Sun is denying any involvement in the potential purchase of Huobi’s shares to his 3.3 million Twitter followers.
“We have not engaged [in] any matters related to the Bloomberg story at this moment.”
Huobi responded to Sun’s tweet with an emoji of wide-set eyes.
News of the possible sale sent Huobi’s native crypto token HT skyrocketing as it rallied from $4.37 to $5.46, a 25% gain in just one day. HT has since stabilized and is changing hands for $5.22 at time of writing, a nearly 20% increase compared to its price 24 hours ago.
A Huobi spokesperson confirmed to Bloomberg Li’s intention to sell his shares in an email but did not offer specific details.
“[Li] hopes that the new shareholders will be more powerful and resourceful, and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi.”
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/kersonyanovicha