The rumours that crypto mogul and Tron founder Justin Sun is thinking about selling his stake in the major cryptocurrency exchange Huobi have been refuted.
As much as I love a good April Fool’s Day prank, I must deny the report that @HuobiGlobal is seeking a stake buyer. Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency. ❤️
— H.E. Justin Sun 孙宇晨 (@justinsuntron) April 1, 2023
The information was revealed following a Bloomberg story that, according to a source with firsthand knowledge of the situation, Sun had discussed selling his stake in Huobi Global.
The report also stated that Sun has just gotten in touch with a few possible investors. At the time, it was unclear what price Sun wanted to charge for the company or the size of the share it was offering.
Leon Li Lin, the founder and majority stakeholder of Huobi, disclosed in December 2022 that he was selling his entire holding in the Seychelles-based cryptocurrency exchange to About Capital Management.
Justin Sun announced his plan to join Huobi Global’s Global Advisory Board at the time. However, Colin Wu, a journalist based in China, asserted that Justin Sun was About Capital’s primary investor. Wu indicated that Sun was the actual purchaser of the share (which the article pegged at about $1 billion).
Sun tweeted on Friday that his tenure as Grenada’s ambassador to the World Trade Organization has come to an end. Sun informed the Tron community of his objectives for the near future.
He stated that he will continue working for the government after handing off his responsibilities to a successor, but he will concentrate on crypto regulation and the digital economy because he thinks these two areas are essential to “the future of trade and development.”
Sun was recently sued by the U.S. SEC for allegedly selling investors billions of unregistered securities in the form of TRX and BTT tokens via BitTorrent and the Tron Foundation while also setting up a secondary market where those securities could be bought and traded.
