Chinese Crypto Tycoon Wants $3 Billion for Huobi Stake Deal

2022-8-13 22:57

Leon Li, the co-founder of global crypto exchange Huobi is wrapping up plans to sell most of his shares in the company valued at $3 billion Bloomberg reports.

According to Houbi group spokesperson, Li has already informed his business associates about his decision and announced at a shareholders meeting in July that he might hand over his roles in the company to focus on his ailing health.

Li in talks with investors seeking to offload a stake


 Li has had conversations with various bankrollers seeking to grab a 60% state in the crypto company, and it is reported that Tron founder Justin Sun and cryptocurrency firm FTX are the interested parties seeking to take over. If sold at 3 billion, this could be one of the biggest share sales, according to Bloomberg.

Those that are reportedly in talks for the share transfer include Tron founder Justin Sun as well as cryptocurrency firm FTX. With Li’s target valuation of US$2 billion to US$3 billion, the share sale could be worth more than US$1 billion, Bloomberg reported.

Houbi faces regulators over Compliance


Houbi, which was launched in 2013, took the industry by storm becoming one of the biggest crypto exchanges. It has however been having a hard time with regulators. Thailand’s securities regulator sought to shut down digital-asset exchange Huobi, revoke its license and have it return all client assets within three months, saying the company has fallen short of regulatory compliance.

Houbi quits Beijing


In September, Huobi founders and backers also voted at a stakeholder meeting to quit trading in China after years of growing government scrutiny that showed the company was involved in inside trading. Following their decision, Chinese regulators announced that all crypto transactions and services were banned in the country

For Be[In]Crypto’s latest Bitcoin (BTC) analysis, click here.

The post Chinese Crypto Tycoon Wants $3 Billion for Huobi Stake Deal appeared first on BeInCrypto.

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Фото:

Report: Huobi Overtakes Binance and OKEx in Commission Earnings

Cryptocurrency exchange Huobi has reportedly raked in a total of $483 million in commissions throughout 2018, more that the top two exchange by volume Binance and OKEx.   Half a Billion in Trading Fees According to a recent report by Korean media Sporbiz, China-based cryptocurrency exchange Huobi has raked in a total of $483 million USD in commissions throughout 2018.

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