Chinese founder of Huobi wants to sell a stake for more than $1 billion, according to Bloomberg

Published on:

Last Updated on August 12, 2022 by Bitfinsider

According to Bloomberg News on Friday, the founder of China’s Huobi Group, which operates one of the largest cryptocurrency exchanges in the world, is in talks with investors to sell his over 60% ownership position in the exchange for over $1 billion.

According to the report, Leon Li’s stake sale might be finished by the end of the month and would value Huobi between $2 billion and $3 billion.

According to the story, which also cited sources with knowledge of the situation, those in contact with Huobi regarding the possible stock sale include Sam Bankman-FTX Fried’s and Justin Sun, the founder of Tron.

While Sun, the CEO of Tron, told the news agency that he hasn’t had any discussions with Li about a sale, a spokesperson for Huobi confirmed to Bloomberg that Li was in discussions about the sale with a number of international institutions. However, the spokesperson declined to provide further details.

Requests for comment from Reuters were not immediately answered by Huobi Group, Tron, or FTX.

After Beijing imposed a complete ban on all cryptocurrency trading and mining in the nation last year, the Chinese group’s crypto exchange stopped accepting new accounts from consumers on the mainland.

Global cryptocurrency players also had problems as a result of a severe market selloff that began in May.

The market conditions were reflected in Coinbase Global’s results, a rival exchange, which this week announced a larger-than-expected quarterly loss as investors stayed away from trading in cryptocurrencies out of fear of this year’s crash in risky assets.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked.

To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor


Are you new to investing and would like to find out more about investments and cryptocurrency? If you know nothing about a topic and want to become an expert on it, one fool proof way to start is to read good books about the topic.

If you read one book about a topic, you will be able to share knowledge or discuss the topic at an elementary level with almost everyone.

Read three books and you will likely know more than the majority of people and will be able to discuss the topic at an intermediate to expert level.

  1. The Intelligent Investor by Benjamin Graham
  2. Crypto Investing Guide: How to Invest in Bitcoin, DeFi, NFTs and More by Ian Balina
  3. The Basics of Bitcoins and Blockchains: An Introduction to Cryptocurrencies and the Technology That Powers Them by Antony Lewis

Disclaimer: Above are some affiliate links and we may collect a share of sales or other compensation from the links on this page.

Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.


Hardware wallets are safe and secure devices that can be used offline. They keep your cryptocurrency offline, making it impossible for you to be hacked. To find out more on the leading hardware wallets, you may view our reviews here: Ledger & Trezor
Disclaimer: The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, legal, tax or other advice. Investing in or trading cryptocurrency or stocks comes with a risk of financial loss.

Related