Sam Bankman-Fried of FTX denies that the crypto exchange is planning to acquire Huobi

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Last Updated on August 30, 2022 by Bitfinsider

In a tweet sent out Monday morning, FTX CEO Sam Bankman-Fried stated that the crypto exchange had no plans to acquire Huobi. According to CoinGecko data, Huobi is one of the world’s largest cryptocurrency exchanges, with a daily trading volume of more than $1 billion.

FTX – which has extended financial lifelines to several troubled crypto companies, including exchange BlockFi and lender Voyager Digital and could eventually acquire both firms – had been rumored to be planning to acquire the Seychelles-based Huobi.

Bloomberg reported in mid-August that FTX had preliminary talks with Huobi founder Leon Li about purchasing a majority stake in Huobi for $3 billion or more. According to the report, a deal could be completed by the end of this month, and Justin Sun, the founder of the Tron blockchain network, is also interested in bidding on the stake. Sun denied that he was interested in a tweet.
FTX purchased Japanese exchange Liquid earlier this year and also agreed to acquire Canadian trading platform Bitvo. FTX was also rumored to be interested in acquiring Robinhood, a no-fee trading app, but Robinhood CEO Vlad Tenev stated in early August that he liked his company as a standalone entity.


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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.

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