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.
