Justin Sun, the inventor of Tron, spoke out against recent reports circulating concerning the cryptocurrency market Huobi. According to Coindesk’s sources, the crypto entrepreneur was attempting to sell his interest to Binance, the world’s largest crypto exchange. Binance, however, declined the proposition because to allegations regarding Huobi’s links to China.
Notably, Tron’s founder rejected rumours of his obtaining a position in Huobi, following the acquisition of a 60% investment in the exchange by About Capital, an asset management platform. Sun, on the other hand, claimed to be an advisor to the exchange, while Huobi claimed to be the exchange’s head.
Sun declared on Twitter that the cryptocurrency exchange had “no intention of changing ownership.” In another tweet, he called Binance one of Huobi’s “most important partners.” Sun also stated that no offer on Huobi was made to Binance co-founder Changpeng Zhao (CZ) last week. “We have always regarded @binance as one of our most important partners and will continue to collaborate with them on all levels,” he stated. However, I must state that in the last week or two, I have not made any offer to @cz_binance regarding the purchase of @HuobiGlobal, nor have we even mentioned Huobi.
Furthermore, Bloomberg reported that Sun was attempting to sell an unknown interest in Huobi Global in order to obtain funding for the exchange. Tron’s inventor, on the other hand, rejected the allegation as a “April Fool’s Day prank.”
The exchange fired off around 20% of its employees earlier this year, blaming it on the crypto bad market. Furthermore, the crypto exchange is planning to relocate its headquarters from Singapore to Hong Kong.
Justin Sun has been the center of attention since the Securities and Exchange Commission (SEC) announced accusations against him. The commission said in a news statement that Tron’s TRX token and BitTorrent’s BTT token were securities.
According to the SEC, all of the businesses implicated committed securities fraud since their transaction occurred without registration. Sun was also accused of fraudulently influencing the price of TRX on the secondary market and directing his staff to participate in wash trading, according to the commission.
