U.S. Markets close in 5 hrs 6 mins
  • S&P 500

    3,639.63
    -79.41 (-2.14%)
     
  • Dow 30

    29,204.84
    -478.90 (-1.61%)
     
  • Nasdaq

    10,722.40
    -329.23 (-2.98%)
     
  • Russell 2000

    1,658.27
    -56.97 (-3.32%)
     
  • Crude Oil

    81.92
    -0.23 (-0.28%)
     
  • Gold

    1,658.90
    -11.10 (-0.66%)
     
  • Silver

    18.55
    -0.33 (-1.75%)
     
  • EUR/USD

    0.9768
    +0.0029 (+0.2930%)
     
  • 10-Yr Bond

    3.7880
    +0.0830 (+2.24%)
     
  • Vix

    33.31
    +3.13 (+10.37%)
     
  • GBP/USD

    1.1017
    +0.0132 (+1.2086%)
     
  • USD/JPY

    144.6210
    +0.4990 (+0.3462%)
     
  • BTC-USD

    19,189.13
    -221.25 (-1.14%)
     
  • CMC Crypto 200

    438.17
    -7.81 (-1.75%)
     
  • FTSE 100

    6,836.18
    -169.21 (-2.42%)
     
  • Nikkei 225

    26,422.05
    +248.07 (+0.95%)
     

Huobi looks to sell stake that values exchange at US$3 bln, Bloomberg reports

·1 min read

Leon Li, the founder of China cryptocurrency exchange Huobi, is seeking to sell a 60% stake in the company that would value the business at US$3 billion, according to a Bloomberg News report that cited people familiar with the matter.

See related article: Sam Bankman-Fried’s Voyager debt emerges; Celsius reshuffles board

Fast facts

  • Justin Sun, the founder of blockchain developer Tron, and crypto billionaire Sam Bankman-Fried’s FTX crypto exchange were among those in talks with Huobi, Bloomberg said, citing unnamed people familiar with the talks.

  • FTX declined to comment, according to the Bloomberg report. Sun said on Twitter: “We have not engaged (in) any matters related to the Bloomberg story at this moment.”

  • Li discussed the plans at a July shareholder meeting, and the deal could close as early as the end of August, seeking a valuation of as much as $3 billion for the group, according to the Bloomberg report.

  • Huobi is applying for a cryptocurrency exchange license in Hong Kong, while seeking to establish its headquarters in Singapore. It closed its office in Thailand.

  • The Huobi token HT rose more than 18% in the past 24 hours to trade at $5.275 as of 5 p.m. in Hong Kong, according to data from CoinMarketCap.

See related article: Chinese crypto exchange Huobi looks to the world as China shuts the door on crypto