Cryptocurrency exchange Binance reportedly declined Justin Sun's offer to buyout his stake in Huobi due to rumors about the exchange's ties to China, CoinDesk has learned, citing people familiar with the matter.
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Sources close to the talks told the news media that Sun in talks with Binance positioned his stake as a majority one. Sun took to Twitter to deny the report, saying he hasn't proposed any offer to Binance's Founder, Changpeng Zhao, regarding the purchase of Huobi.
The news comes shortly after Bloomberg reported that Justin Sun held talks about selling his stake in Huobi with multiple investors. Recall that Sun calls himself as an "adviser" to the exchange and not as a major shareholder.
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