Justin Sun, SBF Jointly Denied The Acquisition Of Huobi Global

Justin Sun, the founder of blockchain network Tron, and Sam Bankman-Fried, the founder of crypto exchange FTX, both denied for the second time that they were involved in the purchase of a majority stake in Huobi Global, after crypto media outlet Wu Blockchain reported on Monday that Sun was the Chinese crypto exchange’s behind-the-scenes purchaser, with Bankman-Fried rumored to be backing Sun.

CoinCu reported in August that Huobi Global was looking to sell its controlling interest for $3 billion, with Sun and Bankman-Fried as prospective purchasers. Justin Sun and Bankman-Fried both disputed it subsequently.

Sun stated in a news statement released on the Chinese media site Cailianshe on Monday that neither he nor Tron was the purchaser of Huobi’s share sale. Cailianshe is a media firm established in Shanghai that is funded by the state-owned Shanghai United Media Group.

With the comment “still not involved,” Bankman-Fried retweeted Wu Blockchain‘s post on his involvement in the deal.

Justin Sun, on the other hand, has joined Huobi Global’s advisory board, and he tweeted about it.

According to a Monday article by Wu Blockchain, unnamed sources claim that About Capital, the purchaser of Huobi Global’s majority interest, is more of a bridge for Justin Sun’s acquisition, and FTX has invested to support Justin Sun.

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