Huobi’s native token, HT, fell about 6% after Bankman-Fried tweeted. FTX CEO Sam Bankman Fried stated in a Tweet Monday morning, that the crypto exchange did not intend to acquire Huobi.
Just to be explicit because apparently a lot of people are saying this:
— SBF (@SBF_FTX) August 29, 2022
No, we are not planning to acquire Huobi.
Huobi is one of the largest crypto exchanges worldwide with a daily volume of more than \$1 billion according to data from CoinGecko.
Speculation was rife that FTX, Bankman-Fried (who have extended lifelines for several troubled cryptocurrency companies like BlockFi and Voyager) were planning to purchase the Seychelles-based Huobi.
Bloomberg reported in mid-August that FTX had been in preliminary talks with Leon Li, Huobi founder, to purchase a majority stake. This would have a value of at least $3 billion. According to the report, a deal could be concluded by the end of August and Justin Sun, founder of Tron, is also interested in bidding for the stake. Sun did not tweet that he was interested in the stake.
Earlier in the year, FTX purchased Japanese exchange Liquid. It also agreed to purchase Canadian trading platform Bitvo.
Huobi’s native token, HT, fell about 6% after Bankman-Fried tweeted.
