Sam Bankman Fried: FTX Is Not Planning To Acquire Huobi

Monday, 29th Aug 2022 – Founder & CEO of FTX, Sam Bankman Fried, has clarified today that they have no plans of acquiring the cryptocurrency exchange Huobi. Huobi is one of the world’s largest cryptocurrency exchange with over $1 billion in daily trading volume.

Huobi’s native token, Huobi Token (HT) is down 7% following the tweet.

On August 12th, Bloomberg reported that Sam Bankman Fried was in touch with Leon Li, the founder of Huobi, to acquire a majority stake in the latter for $3 billion. The report also mentioned that Leon Li was in touch with Justin Sun, the founder of Tron Network, who was also interested in acquiring a stake in Huobi.

Justin Sun later denied the report via a tweet.

In the recent months, FTX has extended lifelines to several troubled crypto companies including exchange BlockFi and lender Voyager Digital and could eventually acquire both firms in the future. Following this, it was speculated that FTX would be acquiring Huobi as well.

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