{"id":76765,"date":"2023-04-06T10:20:16","date_gmt":"2023-04-06T07:20:16","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76765"},"modified":"2025-09-10T19:18:40","modified_gmt":"2025-09-10T16:18:40","slug":"binance-rejects-justin-suns-bid-to-buy-huobi-stake","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/binance-rejects-justin-suns-bid-to-buy-huobi-stake\/","title":{"rendered":"Binance rejects Justin Sun\u2019s bid to buy Huobi stake"},"content":{"rendered":"<p>The cryptocurrency exchange Binance rejected founder Justin Sun&#8217;s offer to buy his stake in the Huobi trading platform. According to sources cited by <a href=\"https:\/\/www.coindesk.com\/business\/2023\/04\/05\/binance-rejected-justin-suns-offer-to-buy-his-huobi-stake-source\/?utm_campaign=coindesk_main&#038;utm_content=editorial&#038;utm_term=organic&#038;utm_medium=social&#038;utm_source=twitter\">CoinDesk<\/a>.<\/p>\n<p>According to the publication, Binance was not interested in the deal because of rumours that Huobi has links to mainland China. In February, the exchange, in which Sun held a stake, <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-applies-for-a-licence-in-hong-kong\">filed a licence application<\/a> in Hong Kong.<\/p>\n<p>According to a source, Binance was convinced that Sun owned a controlling stake in Huobi. The offer itself was made directly to Changpeng Zhao, the head of the largest crypto exchange, about a week ago.<\/p>\n<p>Sun soon after the report denied the rumors.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">We have always regarded <a href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> as one of our most important partners and will continue to work closely with them on all levels. However, I must point out that in the past week or so, I have not proposed any offer to <a href=\"https:\/\/twitter.com\/cz_binance?ref_src=twsrc%5Etfw\">@cz_binance<\/a> regarding the purchase of <a href=\"https:\/\/twitter.com\/HuobiGlobal?ref_src=twsrc%5Etfw\">@HuobiGlobal<\/a> , nor have\u2026 <a href=\"https:\/\/t.co\/S1aXSlZoNv\">https:\/\/t.co\/S1aXSlZoNv<\/a><\/p>\n<p>\u2014 H.E. Justin Sun \u5b59\u5b87\u6668 (@justinsuntron) <a href=\"https:\/\/twitter.com\/justinsuntron\/status\/1643653065101418499?ref_src=twsrc%5Etfw\">April 5, 2023<\/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>&#8220;We have always regarded Binance as one of our most important partners and will continue to work closely with them on all levels. However, I must note that in the past week or so I have not made any proposals to Changpeng Zhao regarding the purchase of Huobi,&#8221; he wrote.<\/p>\n<\/blockquote>\n<p>Binance representatives declined to comment on the situation.<\/p>\n<p>On April 1, Sun <a href=\"https:\/\/u1f987.com\/en\/news\/justin-sun-denies-reports-of-stake-sale-in-huobi\">wrote<\/a> on his Twitter that the information about selling his stake in Huobi was merely an &#8220;April Fool&#8217;s joke&#8221;.<\/p>\n<p>In October 2022, Huobi agreed to the sale of a controlling stake to About Capital Management, a Hong Kong-based investment company. The parties did not disclose the financial terms of the deal.<\/p>\n<p>According to reports, Sun was the ultimate beneficiary of the purchase. The entrepreneur denied these statements, explaining that he had become a member of the exchange&#8217;s advisory board. He also admitted that he is a major holder of HT tokens.<\/p>\n<p>In April 2023, Huobi and Gala Games <a href=\"https:\/\/u1f987.com\/en\/news\/huobi-and-gala-games-devise-compensation-plan-for-victims-of-the-gala-incident\">developed a compensation plan<\/a> for those affected by the GALA incident.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The cryptocurrency exchange Binance rejected founder Justin Sun&#8217;s offer to buy his stake in Huobi, according to sources cited by CoinDesk.<\/p>\n","protected":false},"author":1,"featured_media":76766,"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":[744,1166,230,1302],"class_list":["post-76765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-centralized-exchanges-cex","tag-huobi","tag-justin-sun"],"aioseo_notices":[],"amp_enabled":true,"views":"10","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76765","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=76765"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76765\/revisions"}],"predecessor-version":[{"id":76767,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76765\/revisions\/76767"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76766"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}