FTX CEO Sam Bankman-Fried On Rumors About FTX Acquiring Huobi

We are not planning to acquire Huobi, FTX CEO says. On August 29th, FTX CEO Sam Bankman-Fried (SBF) took to Twitter to clarify the news that FTX will buy crypto exchange Huobi Global.

What Happened?

Earlier this month, Bloomberg reported that Leon Li, the Founder of Huobi Group, was in talks with investors to sell his majority stake in the crypto exchange. According to the report, people said FTX CEO Sam Bankman-Fried and Tron Founder Justin Sun were among those who had preliminary contact with Huobi.

A Huobi spokesperson referred to Leon Li by saying, “He hopes that the new shareholders will be more powerful and resourceful and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi.”

Justin Sun said in a text message that he has not yet made any negotiations with Li about the sale.  

Clarification From SBF

On August 29th, SBF took to Twitter to clarify any reports that FTX would purchase crypto exchange Huobi. He said that there is no plan to acquire Huobi.

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

Previously on FTX

FTX has been involved in several acquisitions in the industry. In June, FTX announced the plan to acquire Bitvo, a Canadian crypto platform. SBF himself posted the news on Twitter. The acquisition was for FTX to offer its products and services to Canadian customers. 

On the other hand, a few weeks ago, FTX US was among five companies that received a cease and desist letter from FDIC after allegedly making misleading statements.

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