{"id":68307,"date":"2022-10-10T10:14:09","date_gmt":"2022-10-10T07:14:09","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=68307"},"modified":"2025-09-07T13:25:56","modified_gmt":"2025-09-07T10:25:56","slug":"media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\/","title":{"rendered":"Media outlets name Justin Sun as Huobi buyer; Tron founder denies rumours"},"content":{"rendered":"<p>The ultimate beneficiary of About Capital Management, which<a href=\"https:\/\/u1f987.com\/en\/news\/huobi-global-agrees-to-sell-controlling-stake-to-hong-kong-based-about-capital-management\"> bought<\/a> a controlling stake in the Huobi exchange, could be the Tron Foundation founder Justin Sun. The information, citing multiple sources, was reported by journalist Colin Wu.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Exclusive: The real buyer of Huobi is Tron Founder Justin Sun, possibly with the help of SBF. <a href=\\\"https:\/\/t.co\/bPMtE2Youe\\\">https:\/\/t.co\/bPMtE2Youe<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1579267579214200832?ref_src=twsrc%5Etfw\\\">October 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>The purchase price could have been $1 billion.<\/p>\n<p>In response to Wu&#8217;s inquiry, the Tron founder said he had not participated in the deal. Subsequently, in his account description it was added that he is connected to Huobi.<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-conversation=\\\"none\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">The personal URL of Justin Sun\u2019s English official Twitter account has been changed to <a href=\\\"https:\/\/t.co\/z1KTwluoAh\\\">https:\/\/t.co\/z1KTwluoAh<\/a>. <a href=\\\"https:\/\/t.co\/1UtqyBkDtD\\\">pic.twitter.com\/1UtqyBkDtD<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1579295365639000064?ref_src=twsrc%5Etfw\\\">October 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<p>About Capital Management was involved in the deal due to concerns by Huobi founder Leon Li that the move could affect his safety amid concerns from Chinese authorities. In turn, Justin Sun did not want to provoke Binance, which backs him, according to sources.<\/p>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">October 10, 2022 | 09:22<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span>\\n<\/p>\n<p>Wu reports that Justin Sun delivered a speech to Huobi employees.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">Justin Sun is making a speech to all Huobi employees. He said that the overall work will revolve around Huobi Token HT, but will not return to the Chinese market. (which should only be said to the Chinese government) <a href=\\\"https:\/\/t.co\/bdMqeZ7LFM\\\">https:\/\/t.co\/bdMqeZ7LFM<\/a><\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1579398893292642305?ref_src=twsrc%5Etfw\\\">October 10, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abHe said that the overall work would revolve around HT token, but the company will not return to the Chinese market\u00bb, \u2014 the journalist wrote.<\/p>\n<\/blockquote>\n<div class=\\\"wp-block-text-wrappers-update-2 article_update\\\"><time class=\\\"gtb_text-wrappers_update_time\\\">October 10, 2022 | 10:49<\/time><span class=\\\"gtb_text-wrappers_update_head\\\">Update: <\/span>\\n<\/p>\n<p>Huobi representatives, in ForkLog&#8217;s comment, said that Sun joined the exchange\u2019s advisory board. He will participate in the company\u2019s development as an advisor alongside four other representatives from traditional and blockchain companies.<\/p>\n<p>According to <a href=\\\"https:\/\/www.huobi.com\/support\/en-us\/detail\/34919663373190\\\">a statement<\/a> on Huobi\u2019s site, the advisory board also includes About Capital Management CEO Ted Chen, Huobi\u2019s co-founder Du Jun, Hong Kong University of Science and Technology vice-president Wang Yang, and Valkyrie Investments CEO Leah Wald.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>\u00abThe advisory board will aid Huobi Global\u2019s business development and help shape the global expansion roadmap\u00bb, the company said.<\/p>\n<\/blockquote>\n<p>Sun told The Block that the claim he was the real buyer of Huobi is \u201cuntrue.\u201d The Tron founder reiterated that he joined the platform\u2019s advisory board.<\/p>\n<\/div>\n<\/div>\n<p>As Bloomberg reported in August 2022, Li <a href=\"https:\/\/u1f987.com\/en\/news\/bloomberg-reports-sam-bankman-fried-and-justin-suns-interest-in-buying-huobi\"> was negotiating the sale of 58% of the stake<\/a> at a valuation of $2\u20133 billion.<\/p>\n<p>Among potential buyers were Sun and FTX founder Sam Bankman-Fried. The latter<a href=\"https:\/\/u1f987.com\/en\/news\/sam-bankman-fried-denies-plans-to-acquire-huobi\"> later denied his interest<\/a>.<\/p>\n<p>In November 2019 Justin Sun and other investors acquired the crypto exchange Poloniex.<\/p>\n<p> Read ForkLog\u2019s bitcoin news in our Telegram \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ultimate beneficiary of About Capital Management, which bought a controlling stake in Huobi, could be the Tron Foundation founder Justin Sun. The information, citing multiple sources, was reported by journalist Colin Wu.<\/p>\n","protected":false},"author":1,"featured_media":68308,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[230,1302,1235],"class_list":["post-68307","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-huobi","tag-justin-sun","tag-mergers-and-acquisitions"],"aioseo_notices":[],"amp_enabled":true,"views":"37","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=68307"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68307\/revisions"}],"predecessor-version":[{"id":68309,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/68307\/revisions\/68309"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/68308"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=68307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=68307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=68307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}