December 2, 2023


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Justin Sun Clarifies No Plans to Sell Stakes in Huobi Global Despite Previous Reports

1 min read

There was much speculation last week that Justin Sun, founder of Tron, was looking to sell some of his stakes in the crypto exchange Huobi Global. However, on Wednesday, Sun issued a statement clarifying that there were no plans to change ownership of the exchange.

Sun emphasized that the current owners of Huobi Global want to continue, reiterating his support for the crypto space and the potential of cryptocurrency. He added that Huobi Global has been a trusted name in the cryptocurrency industry for over 10 years, providing a safe, reliable, and compliant platform for trading digital assets.

This statement came after reports surfaced last week that Huobi Global was in discussion to sell some stakes in the exchange, with Sun reaching out to investors for the sale.

Meanwhile, recent reports suggest that Binance, one of the top cryptocurrency exchanges, has refused an offer to buy out Justin Sun’s ownership stake in Huobi Global, which contradicts Sun’s views that he wanted to sell stake.

It is worth noting that in March 2023, the US Securities and Exchange Commission had leveled multiple charges against Sun over the unregistered offer and sale of Tron (TRX) and BitTorrent (BTT) tokens.