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    Home » Crypto News » FTX’s Sam Bankman-Fried Says No Plans to Acquire Huobi

    FTX’s Sam Bankman-Fried Says No Plans to Acquire Huobi

    Author: Anthonia Isichei

    Last Updated Aug 30, 2022 @ 07:26

    Amid reports about FTX being among the potential buyers of a major stake in Huobi, SBF cleared that his company does not have such plans.

    FTX founder and CEO Sam Bankman-Fried, also known as SBF, clarified that there are no plans to acquire cryptocurrency exchange giant Huobi, contrary to previous reports.

    Previously, TRON’s Justin Sun also denied similar rumors.

    • Sam Bankman-Fried made the clarification in a tweet on Monday (August 29, 2022). According to the billionaire:

    “Just to be explicit because apparently a lot of people are saying this: No, we are not planning to acquire Huobi.”

    • SBF’s statement follows earlier reports that Huobi boss Leon Li is looking to sell his majority stake in the platform, reportedly valued between $2 billion to $3 billion. Li said to be in talks with the FTX CEO, TRON founder Justin Sun, and other potential buyers.
    • However, Sun immediately denied the original Bloomberg report, stating that neither he nor the company has engaged with Huobi.
    • Bankman-Fried also earlier refuted rumors about acquiring investing and trading platform Robinhood.
    • Meanwhile, FTX has been involved in merger and acquisition deals amid the ongoing crypto winter.
    • As previously reported by CryptoPotato, it was confirmed that Bithumb owner Vidente is holding discussions with FTX about possibly selling its stake to SBF’s company.
    • In July, BlockFi CEO Zac Prince announced that the cryptocurrency lender “signed definitive agreements” with FTX, which includes an option to purchase BlockFi for up to $240 million.
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    Tags: FTX Exchange Huobi Sam Bankman-Fried (SBF)
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    About The Author

    Anthonia Isichei
    More posts by this author

    Anthonia is a fintech writer who has been involved in the crypto space since 2017 covering developments across regulations, adoption, and several other aspects of the Industry. When not neck-deep in the crypto news cycle, Anthonia spends her free time globetrotting and playing video games.

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