Latest News

Justin Sun and SBF again denied being involved in the transaction to Huobi Global

After cryptocurrency media outlet Wu Blockchain reported on Monday that Sun was actually the Chinese crypto exchange’s behind-the-scenes purchaser, with Bankman-Fried rumored to be supporting Sun, both the founders of blockchain network Tron and cryptocurrency exchange FTX denied their involvement in the deal for a second time.

According to a Bloomberg article from August, Sun and Bankman-Fried were reportedly interested in purchasing Huobi Global’s majority ownership, which was valued at US$3 billion. Later, though, both Sun and Bankman-Fried disputed it.

In a press release posted on the Chinese news website Cailianshe on Monday. Sun claimed that neither he nor Tron was the buyer of the stake sale from Huobi. The state-owned Shanghai United Media Group supports the media company Cailianshe, which is situated in Shanghai.

With the remark β€œstill not involved.” Bankman-Fried tweeted Wu Blockchain’s article on his participation in the acquisition.

However, Justin Sun tweeted to acknowledge his appointment to the Huobi Global advisory board.

In a story published on Monday, Wu Blockchain cited unnamed sources who said that About Capital, the company that bought the majority of Huobi Global, is more of a “bridge” for Justin Sun’s acquisition and cited reports that FTX has invested to support Justin Sun.

Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.