FTX CEO Denies Huobi Acquisition Rumors
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Cryptocurrency exchange FTX has no plans to acquire Chinese trading platform Huobi.

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FTX CEO, Sam Bankman-Fried, took to Twitter to dispel rumors, saying that FTX is "not planning to acquire Huobi." He said:

"No, we are not planning to acquire Huob. Apparently a lot of people are saying this."

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Bankman-Fried's statement comes after reports said that FTX and TRON founder, Justin Sun, had "preliminary contact" with Huobi founder Leon Li, who reportedly wants to sell 60% of stake in the exchange.

A spokesperson for Huobi had earlier confirmed the discussions, but declined to elaborate on the matter. Reports say Li previously ceded management to his assistants due to health issues. Right now, Huobi is reportedly ruled by Hua Zhu, who left Alibaba in 2020.

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