Leon Li, the co-founder of Huobi, wants to sell his majority stake in the company, which is worth more than $1 billion. He informed everyone about his decision in a recent meeting with the company’s shareholders. Leon has around a 60% stake in Huobi, which will make this sale quite huge. In fact, some estimates suggest that it could even be worth more than $3 billion. It will be interesting to see who acquires the stake Leon Li wants to sell.
Leon Li is trying to get hold of buyers for his stake at Huobi
A spokesperson from the exchange said that Leon Li is in talks with a number of international players to offload his stake in the exchange. It is obviously not easy to get a buyer who will acquire 60% of a company worth more than $1b. So, this deal could also involve multiple buyers who buy a part of Leon’s stake in the company. There also have been rumors that FTX and Justin Sun were in talks with Leon about buying the stake from him.
It seems that Leon’s decision to sell his stake in the company is the work stress. After announcing his plans, Leon also gave his duties to Hua Zhu so he could focus on his health. For now, there is no solid information on any deal brewing, but a lot of things could be happening. We could get at least some confirmation on a deal in a month’s time or so.
This is a major opportunity
Huobi is one of the most popular crypto exchanges globally, which makes this sale even more interesting. Companies like FTX, who have been making constant investments in different crypto platforms and exchanges to diversify during this bear market, can take this opportunity to buy a stake, if not the entire thing, at Huobi. This will give them immense returns when the bull market returns.
The platform accounts for more than $1 B in daily trading volume and has been active since 2013. This also makes it one of the oldest crypto exchnages to be active right now.
What are your thoughts as Leon Li, co-founder at Huobi, wants to sell his majority stake? And do you think Justin Sun or FTX will grab the deal? Let us know in the comments below. And, if you found our content informative, do share it with your friends.
Also Read: Coinbase can easily survive this bear market, says analyst.
