Sam BankMan-Fried Denies Plan To Acquire Huobi

FTX CEO Sam BankMan-Fried has officially confirmed the possibility of acquiring the Huobi cryptocurrency exchange, denying rumors that have been strongly spread by the community in the past.

In mid-August, rumors were circulating that FTX and CEO Sam Bankman-Fried held preliminary talks with Huobi co-founder Leon Li to buy a majority stake in the exchange at a valuation of $3 billion. Tron blockchain founder Justin Sun is also said to have been very interested in the deal.

On August 29, when the CEO of FTX posted a status line on his page, he and FTX had no plans to buy Huobi.

After the confirmation from the CEO of FTX, Huobi’s HT token price quickly fluctuated wildly, plummeting more than 10% from nearly $5.5 to about $4.9 at the time of writing.

The reason behind the decline of HT is that the Huobi community is extremely hoping that big players in the market like Sam Bankman-Fried will open up a new future for Huobi after a long series of days of deep crisis in 2021 and most recently, stablecoin HUSD unexpectedly depeg as well as Malaysian authorities put Huobi on the Investor Alert List.

Coincu will continue to update the situation related to SBF, you can find out more information through this article.

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Harold

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