Justin Sun calls media reports about Huobi stake sale ‘April fools prank’
Apr. 1, 2023
By Assad Jafri
Sun made the tweet in response to a Bloomberg News report on April 1 claiming that the Tron founder was looking to sell an undisclosed stake in Huobi Global to "raise funds."
Justin Sun denied reported rumors about him being in talks to sell a stake in crypto exchange Huobi Global — calling them an April Fool’s joke.
Sun said:
“Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency.”
Rumors of sale
Sun tweeted in response to a Bloomberg News report on April 1 claiming that the Tron founder was looking to sell an undisclosed stake in Huobi Global to “raise funds.”
The report cited a “person with direct knowledge of the matter” who wished to remain confidential due to the sensitive nature of the information.
The source told the news outlet that Sun had been looking for potential buyers for several days but did not name any potential buyers or divulge any details of the discussions.
The crypto community is split on the matter, with some taking Sun at his word and others pointing out that CEOs of CEXs had made similar comments before their firms collapsed.
Sun’s relationship with Huobi
Hong Kong-based About Capital Management acquired a majority 60% stake in Huobi Global for roughly $1 billion in October 2022 — with many speculating that Sun was behind the deal due to his links to the former company.
However, Sun denied the speculation then and claimed he was simply serving as an advisor for the exchange.
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