Cryptocurrencies News :
Reports suggest that Justin Sun, the founder of Tron, is allegedly considering selling a portion of his stake in Huobi Global, a cryptocurrency exchange. Bloomberg cites a source with knowledge of the matter, who revealed that Sun has been discussing this possibility with potential investors.
Sun paid $1 billion for the exchange last year, following its acquisition by Hong Kong-based investment firm About Capital, managed by Leon Li, the exchange’s primary shareholder.
While a member of Huobi’s global advisory board confirmed that Sun had been reaching out to investors, he maintains that he has no ownership interests in Huobi.
However, Sun has contributed roughly $200 million to the exchange’s support since January.
Despite declining trading volumes, Sun denied reports of his plans to sell, stating that the reports were an April Fool’s joke, and the company remains committed to providing safe cryptocurrency trading and investment opportunities, with no plans to seek a new owner.