Tron Founder Justin Sun Denies Huobi Global Stake Sales Rumor

Justin Sun, Tron founder has denied rumors about Seychelles-based cryptocurrency trading platform Huobi Global Exchange trying to sell off stakes.

On his Twitter account, he tagged this hearsay about the platform where he is the ‘adviser’ to be an April Fool’s Day prank. Also, he assured users of Huobi’s commitment to providing the decentralized protocol with secure and stable conditions for their trading activities.

“As much as I love a good April Fool’s Day prank, I must deny the report that @HuobiGlobal is seeking a stake buyer.  Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency,” Justin Sun clarified on Twitter.

Based on a Bloomberg report, the 32-year-old Chinese native has been having discussions with some potential investors on his plan to sell his recently acquired stake in Huobi Global. The past few weeks have been filled with several meetings with these investors. The valuation nor the size of the stake which he intends to trade was not disclosed. 

Huobi Global Change in Ownership

After severally dispelling talks about him acquiring the Seychelles-based digital asset platform, Sun procured Huobi Global for $1 billion through About Capital Management, a Hong Kong-based investment company. He failed to acknowledge that he is the ‘real buyer’ of the exchange. He preferred to be regarded as a member of the company’s Global Advisory Board.

All the Tron founder could say at that time was “I am very honored to be appointed as a member of the Global Advisory Board of @HuobiGlobal and work with industry, academic, and policy leaders to help guide and grow this innovative, vibrant, and resilient organization in its latest chapter of global expansion. Full sail ahead.

Before that time, the founder and largest stakeholder of Huobi Global exchange Leon Li indicated plans to sell as much as 60% of his stakes in the company.

Rumors have it that apart from Justin Sun, Li met Sam Bankman-Fried, the former Chief Executive Officer (CEO) of now-bankrupt FTX. However, about three months before FTX imploded, Bankman-Fried explained that his company had no plans of acquiring Huobi Global.