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2 April 2023
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FTX’s Sam Bankman-Fried Says No Plans to Acquire Huobi

Amid reports about FTX being among the potential buyers of a major stake in Huobi, SBF cleared that his company does not have such plans.

FTX founder and CEO Sam Bankman-Fried, also known as SBF, clarified that there are no plans to acquire cryptocurrency exchange giant Huobi, contrary to previous reports.

Previously, TRON’s Justin Sun also denied similar rumors.

  • Sam Bankman-Fried made the clarification in a tweet on Monday (August 29, 2022). According to the billionaire:

“Just to be explicit because apparently a lot of people are saying this: No, we are not planning to acquire Huobi.”

  • SBF’s statement follows earlier reports that Huobi boss Leon Li is looking to sell his majority stake in the platform, reportedly valued between $2 billion to $3 billion. Li said to be in talks with the FTX CEO, TRON founder Justin Sun, and other potential buyers.
  • However, Sun immediately denied the original Bloomberg report, stating that neither he nor the company has engaged with Huobi.
  • Bankman-Fried also earlier refuted rumors about acquiring investing and trading platform Robinhood.
  • Meanwhile, FTX has been involved in merger and acquisition deals amid the ongoing crypto winter.
  • As previously reported by CryptoPotato, it was confirmed that Bithumb owner Vidente is holding discussions with FTX about possibly selling its stake to SBF’s company.
  • In July, BlockFi CEO Zac Prince announced that the cryptocurrency lender “signed definitive agreements” with FTX, which includes an option to purchase BlockFi for up to $240 million.

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