Justin Sun and Sam Bankman-Fried Deny Involvement in Huobi Global Acquisition… Again!

The crypto world is buzzing with rumors surrounding the acquisition of Huobi Global. Were Justin Sun and Sam Bankman-Fried secretly involved? Let’s dive into the latest denials and what’s really happening behind the scenes.

Sun and Bankman-Fried Deny Huobi Global Acquisition Involvement… Again

Both Justin Sun, the founder of Tron, and Sam Bankman-Fried, the head of FTX, have once again denied their involvement in the acquisition of crypto exchange Huobi Global. This comes after cryptocurrency media outlet Wu Blockchain reported that Sun was the behind-the-scenes purchaser, with Bankman-Fried allegedly supporting the deal.

Here’s a quick recap of the situation:

• The Rumor: Justin Sun was the actual buyer of Huobi Global, with potential backing from Sam Bankman-Fried.
• The Denials: Both Sun and Bankman-Fried have repeatedly denied these claims.
• The Source: Wu Blockchain cited unnamed sources claiming About Capital was a “bridge” for Sun’s acquisition.

According to a Bloomberg article from August, both 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.

Justin Sun’s Official Statement

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.

Bankman-Fried’s Concise Rejection

Bankman-Fried simply tweeted “still not involved.” in response to Wu Blockchain’s article.

Justin Sun Joins Huobi Global Advisory Board

While denying the acquisition, Justin Sun did announce his appointment to the Huobi Global advisory board. This adds another layer of complexity to the situation.

About Capital: A Bridge for Justin Sun?

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.

Key Takeaways and What’s Next

The Huobi Global acquisition saga continues to unfold. While Sun and Bankman-Fried deny direct involvement, their actions and connections to the deal remain a point of speculation. Here’s what to watch for:

• Official Announcements: Keep an eye out for official statements from Huobi Global and related parties.
• Market Reactions: Monitor how the market reacts to these developments.
• Further Investigations: Expect more investigative reporting to uncover the truth behind the acquisition.

The crypto world is full of surprises, and the Huobi Global situation is a prime example. Stay tuned for more updates as this story develops!