Justin Sun Huobi

Justin Sun admits to buying Huobi

14.11.2022 12:40 (Updated 25.11.2022 14:11)
avatar
by Sviatoslav Pinchuk
2 min read

At the beginning of October this year, Hong-Kong based asset management company About Capital bought a controlling stake in Huobi. Right after that, the rumors of Justin Sun, the founder of TRON, being involved in the deal were spread. Only after a month after denying his position and saying he’s probably the biggest holder of Huobi tokens, he acknowledged on Twitter that he joined Huobi’s board.

Among other things, he stated: 

“First of all, financial security. Huobi is an “old school” exchange that has had no serious problems for 9 years. Brother Sun (that’s what Justin calls himself) will love it just as much as his other “kids” (after all the deal’s worth over a billion and should bring in money).”

In the Bloomberg interview, Sun also discussed plans for the future. He wants to expand Huobi’s presence in the global market. And if circumstances allow, even return the company to China.

As for the FTX fallout, Justin Sun stressed that he was not renouncing his support for FTX in its difficult situation. Moreover, he claimed to cooperate with the liquidators in the bankruptcy process of the company.

On Nov. 11, Sun told Tom Mackenzie, the anchor of Bloomberg TV, that he’s prepared to provide FTX with billions in aid, but it can be done after the full diligence”. He also pointed out that by doing this he’s showing unity in the crypto industry.

To recap, the official FTX channel announced the opening of a TRON credit facility to help the users of the insolvent crypto exchange. FTX holders can withdraw listed tokens to external wallets, albeit partially.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

Subscribe to
Crypto Ping Pong Digest

Trash style news. You will definitely like

Trending news

Arrow previous
Arrow next
Yellow background Yellow background
Subscribe and be in touch
Click here