Crypto exchange FTX’s CEO says no plan to buy China’s Huobi
By Krystal Hu
(Reuters) -FTX Chief Government Sam Bankman-Fried mentioned in a tweet on Monday that the crypto alternate has no plans to purchase China-based Huobi, which additionally runs one of many world’s largest cryptocurrency exchanges.
Huobi founder Leon Li was exploring a stake sale within the firm, individuals conversant in the matter advised Reuters earlier this month.
A sale for Li’s nearly 60% stake would worth Huobi between $2 billion and $3 billion, and might be accomplished as quickly as this month, Bloomberg Information reported earlier in August.
The cryptocurrency business has seen sharp declines this yr amid a broader risk-off sentiment within the markets attributable to geopolitical turmoil, aggressive financial coverage tightening and decades-high inflation.
Bankman-Fried in current months has thrown lifelines to a number of digital asset platforms, together with cryptocurrency lenders BlockFi and Voyager Digital. (https://bit.ly/3TorlM6)
In July, Bankman-Fried mentioned he and his firm nonetheless have a “few billion” available to shore up struggling companies that might additional destabilize the digital asset business, however that the worst of the liquidity crunch has possible handed.
(Reporting by Manya Saini in Bengaluru and Krystal Hu in New York; Enhancing by Shounak Dasgupta)
