FTX’s Bankman-Fried and Tron’s Justin Sun in Talks to Buy Huobi Global

A Bloomberg report has it that Leon Li, the founder of crypto exchange Huobi Global, is in talks with other crypto entrepreneurs to sell a majority stake in the company.

Should the talks be fruitful, the transaction would value the firm at $3 billion or more.

Li is looking to sell almost 60% of Huobi, according to the report.

Li has held preliminary talks with Tron founder Justin Sun and FTX, the crypto exchange founded by Sam Bankman-Fried, the report added.

However, Sun has denied any involvement, in a tweet.

CoinGecko says Huobi has a daily trade volume of over $1billion, majing it one of the largest crypto exchanges.

A deal could be completed as soon as the end of this month, per the report.

Li is seeking an overall valuation of $2 billion-$3 billion, which means that the stake sale could fetch upwards of $1 billion.

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