TRON’s Justin Sun FTX’s SBF Deny Involvement in Huobi Global Sale

• Justin Sun and Sam Bankman-Fried disprove purchasing a majority stake in Huobi Global.
• TRON and FTX founders were considered potential buyers for Huobi’s stake sale.
• The Huobi Global Advisory Board appointed Sun as their member.

The founder of blockchain network TRON, Justin Sun, and crypto exchange FTX founder Sam Bankman-Fried have denied the rumors of their participating in purchasing a majority stake in Huobi Global.

In an announcement made in August this year, Huobi Global was reportedly seeking to sell its majority stake at a valuation of $3 billion, with Sun and Bankman-Fried as potential buyers. However, both of them refuted the claims.

In response to the media claims, Sun clarified in an interview that neither he nor TRON was the acquirer of Huobi’s share sale. In the future, both will continue to support the development of Huobi. He also shared the news of his being given the opportunity to serve as a member of the newly established Huobi Global Advisory Board.

Sun shared his excitement about the new appointment on Twitter:

On the other hand, Bankman-Fried responded to a report about his involvement in the acquisition by stating that he was “still not involved.”

Earlier this week, the founder of Huobi Global, Leon Li Lin, announced the sale of his majority stake in the Chinese exchange to About Capital Management.

Lin added:

I am no longer a shareholder in Huobi Global and have no authority, directly or indirectly, over Huobi Global.

Soon after the deal’s announcement, Houbi Global’s native token, HT, spiked nearly 25% in just a few hours. The digital asset price went from BRL 21.47 to a local peak of BRL 26.74.