Huobi Group founder Leon Li is in talks with a group of investors to sell his stake in the crypto exchange for $3 billion.
Chinese cryptocurrency magnate Leon Li met with a number of buyers to sell about 60 percent of his company he founded almost a decade ago. Tron founder Justin Sun and crypto billionaire Sam Bankman-Fried’s FTX are among the first to negotiate a share transfer with Huobi. In addition, the negotiating parties stated that they would like to remain anonymous while discussing private information.
Leon Li’s Houbi Stock Decision Was Forewarned
According to rumors, current backers, including ZhenFund and Sequoia China, state that Leon Li announced this decision at its shareholders meeting in July. One person said talks could be completed by the end of this month. Li values his shares between $2 and $3 billion. This shows that the sale may exceed 1 billion dollars.
A Huobi spokesperson said Li had contacted several international institutions about the sale of shares, but would not disclose names. The spokesperson said:
We hope that the new shareholders will be stronger and more resourceful and will value the Huobi brand. We hope they will invest more capital and energy to keep Huobi growing.
While FTX spokespersons did not make a statement, Justin Sun said in a message that they did not discuss the sale with Li.
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