• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: FTX Trust Sues Genesis To Recover $1 Billion Allegedly Misappropriated By SBF
Crypto

Crypto Billionaire Sam Bankman-Fried, Justin Sun Reportedly Eyeing Majority Takeover Of Huobi

Christian Encila
by Christian Encila
3 years ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The founder of crypto exchange Huobi Global, Leon Li, is in discussions to sell nearly 60% of his investment in Huobi, which accounts for 5% of all crypto trading volume. Reports on Saturday indicate the deal is priced between $2 and $3 billion.

Existing investors in Huobi, including Sequoia China and ZhenFund, were reportedly notified of Li’s decision during a shareholder meeting in July of this year.

Based on initial reports, Li views the new shareholders as “powerful and resourceful.” Moreover , potential investors must place a high premium on the Huobi brand and devote adequate funding to fostering its expansion.

According to sources with knowledge of the transaction, FTX founder Sam Bankman-Fried and Tron founder Justin Sun are in discussions with Huobi regarding the acquisition of the stake.

Related Reading: Tornado Cash Token Loses 24% Of Value After Developer Arrest
Image: Good Audience

One Of The Biggest Deals In Crypto

Data compiled by digital currency data aggregator CoinGecko shows that Huobi Global, headquartered in the Seychelles, is one of the largest cryptocurrency exchanges, with a daily trade volume of more than $1 billion.

If the transaction is finalized, it will be one of the largest in the crypto sector. It is anticipated that the acquisition could be consummated by the end of this month.

This could be the first instance of a sale of a controlling stake by one of the largest crypto firms. The slump in the digital currency market has pushed many of the biggest companies to trim expenditures and personnel.

Huobi was among the most prominent cryptocurrency trading platforms in the world, but it had to get out of China, which was formerly its largest user base and source of income.

SBF Has The Money To Fund Companies

In 2021, when the Chinese government made crypto-transactions illegal, Li’s company ceased providing services to the communist nation’s users.

Since the beginning of the crypto winter, Bankman-Fried’s company has provided Voyager Digital with a $200 million financing and BlockFi with a $250 million revolving credit.

Recently, the billionaire disclosed that his firm still has “a few billion” in its coffers for funding financially-drained companies.

Bankman-Fried stated in a recent podcast interview that he will spend up to $1 billion of his estimated $12.8 billion fortune on American politics in the 2024 election, entering the list of megadonors like the Koch brothers and George Soros.

Since January, SBF has donated at least $34 million to political candidates and various socio-political causes.

And – did you know that Bankman-Fried’s hair may be purchased as a non-fungible token?

Related Reading: Tornado Cash Suspected Developer Collared By Dutch Authorities

Crypto total market cap at $1.15 trillion on the daily chart | Source: TradingView.com

Featured image from Blockworks, Chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Christian Encila

Christian Encila

Follow

Christian, a journalist and editor with leadership roles in Philippine and Canadian media, is fueled by his love for writing and cryptocurrency. Off-screen, he's a cook and cinephile who's constantly intrigued by the size of the universe.

Full Profile

Related Posts

Ethereum

Crypto Bloodbath: Ethereum Endures Largest Liquidation Wave Since 2021, More Decline Ahead?

3 hours ago
Ethereum news

Ethereum Founder Buterin Defends Coinbase Amid Fierce Debate: Here’s Why

4 hours ago
Gemini Picks 3 Best Crypto Presales to Weather the Market Crash

Gemini Picks 3 Best Crypto Presales to Weather the Market Crash

6 hours ago
Best Crypto to Buy as US-UK Crypto Alliance Could Redefine the Sector

US and UK Explore Crypto Regulatory Collaboration – Which Are the Best Cryptos to Buy Now?

8 hours ago
Why Bitcoin Hyper's Layer-2 Could Make Bitcoin Relevant for Developers & Modern Demands

Why Bitcoin Hyper’s Layer-2 Could Make Bitcoin Relevant for Developers & Modern Demands

8 hours ago
Crypto

United On Crypto: UK And US Announce Joint Regulatory Effort

9 hours ago
Please login to join discussion

Premium Sponsors

Press Releases

  • Bitcoin Hyper

    ChatGPT предсказва следващата 1000x...

    11 hours ago
  • Snorter надхвърли $4 милиона след...

    1 day ago
  • ตัวละครสัตว์ Snorter หน้าตลกโผล่พ้นกำแพงอิฐ

    นักลงทุนแห่เข้าซื้อ...

    5 days ago
  • Little Pepe ($LILPEPE) presale crosses $25 million milestone as investors eye exchange listings and meme coin Layer-2 blockchain growth.

    Little Pepe Presale Surges Past $25M as Stage 12 Sells Out...

    5 days ago
  • As Demand Grows for Ease, MEXC Adds Apple Pay and Google Pay for Instant Crypto Purchases

    As Demand Grows for Ease, MEXC Adds Apple Pay and Google...

    5 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.