Business

Co-founder Huobi wants to sell his majority stake worth over $1B

The majority interest in Huobi that co-founder Leon Li owns, which is worth more than $1 billion, is up for sale. He just met with the company’s stockholders and told them of his choice.

Leon owns over 60% of Huobi, therefore this transaction will be quite significant. In fact, according to some estimations, its value may potentially exceed $3 billion. Watching who buys the portion Leon Li wants to sell will be intriguing.

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Leon Li is trying to get hold of buyers for his stake at Huobi

According to a representative for the exchange, Leon Li is in negotiations to sell his ownership in the exchange to a number of foreign parties. Finding a buyer willing to buy 60% of a firm with a market value of more than $1 billion is obviously not simple.

Therefore, this purchase may possibly entail a number of bidders each purchasing a portion of Leon’s ownership position in the business. Additionally, there have been speculations that Justin Sun and FTX were in contact with Leon about purchasing the share from him.

Leon appears to have decided to sell his firm stock due to stress at work. In addition to revealing his goals, Leon delegated Hua Zhu his responsibilities so he could concentrate on his health. Although there is currently no verified information about any transaction in the works, a lot of things may be going on. In about a month, we could have at least some confirmation of an agreement.

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This is a major opportunity

Given that Huobi is one of the most well-known cryptocurrency exchanges worldwide, this auction is all the more intriguing. Businesses like FTX can take advantage of this chance to purchase a share in Huobi, if not the entire company, since they have been continuously investing in other cryptocurrency platforms and exchanges to diversify throughout this down market. When the bull market returns, this will greatly increase their gains.

Since its launch in 2013, the platform has handled more over $1 B in daily trade volume. This makes it one of the earliest crypto exchanges still in operation today.

What do you think of Leon Li selling his controlling ownership in Huobi, a company he co-founded? And who do you believe will win the deal—Justin Sun or FTX? Additionally, please tell your friends about our information if you found it to be informative.

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