general

Tron founder only confirms advisory role on cryptocurrency exchange Huobi and denies acquiring it

Tron founder only confirms advisory role on cryptocurrency exchange Huobi and denies acquiring it

The content site is one of the sites that provide the service of answering general questions and solving puzzles and crossword puzzles

Where the content site is primarily interested in answering your questions in all areas, including solving puzzles and crossword puzzles

Answer Tron founder only confirms advisory role on cryptocurrency exchange Huobi and denies acquiring it

Just a week after Huobi Global revealed a change in shareholder structure, Tron founder Justin Sun emerged as the platform’s shadow owner.

Justin refuted the allegations about the acquisition.

He explained that his role was limited to being the company’s global advisor.

This development comes on the heels of reports of Huobi founder Leon Li, who is looking to sell his majority stake for more than $1 billion, and the platform is valued at $3 billion.

Justin Sun and Huobi:

According to show Finally, Huobi’s major shareholder, reached an agreement with Hong Kong-based About Capital Management to sell his entire stake in the company.

Read:For these reasons, the value of the BNB cryptocurrency has increased by more than 75 percent

About Capital will control the majority stake in Huobi Global.

Interestingly, Justin Sun was said to be the lead investor in the M&A fund About Capital.

The move was first reported by Colin Wu, a prominent Chinese crypto journalist, who stated that the move indicated that Justin was the real buyer of the stake, which is said to be $1 billion.

On the other hand, the controversial Toon CEO said this claim is false.

To confirm this, he tweeted:

I am very honored to be appointed as a member of Huobi Global’s Global Advisory Board and to work with industry leaders, academics and politicians to help guide and grow this innovative, vibrant and resilient organization in its final chapter of global expansion.

The Tron founder has not yet denied his role in the About Capital fund.

After purchasing the majority stake, Huobi formed a five-member global advisory board consisting of co-founder Doo Jun, Wang Yang, vice president of Hong Kong University of Science and Technology and CEO of Valkyrie Investment, founder of Capital Ted Chen, and founder of Tron.

Read:VeChain Corporation seeks to destroy 727 million recently stolen VET

The Board of Directors is tasked with directing the global expansion of the platform.

Meanwhile, rumors also surfaced that the FTX founder had bought a stake in Huobi along with Justin Sun.

Read:Bitcoin Drops Below $20,000…Here’s Why!

Huobi Roadmap:

After the deal, Huobi plans to implement a series of new international brand promotion and business expansion initiatives.

This included the formation of a global strategic advisory board.

From now on, the cryptocurrency trading platform will double the injection of sufficient capital into the margin and risk saving fund.

For information, Huobi Global was founded in 2013.

The company led the crypto boom in China before regulators declared all crypto transactions illegal in 2021, and to comply with Beijing, Huobi exited the Chinese domestic market.

Read also:

European Parliament ratifies the MiCA framework for regulating the crypto market

Bitcoin mining difficulty rises 13.55% to over 35 trillion hash…Details here


And you can ask questions on the content site through the word “Ask a question” at the top of the site, where we answer your questions in a short time

Previous post
Cryptocurrency exchange Coinbase obtains a license to provide crypto services in Singapore
Next post
European Parliament ratifies the MiCA framework for regulating the crypto market