FTX Will Not Be Buying Huobi After All

The above tweet says it all, Sam Bankman-Fried as answered the question as to whether FTX has plans to acquire Huobi. This is in response to rumors circulations Chinese social media that claimed the crypto exchange was going to purchase Huobi.

The rumor started with a user with over 500k in flowers on Weibo, or Chinese Twitter as some have deemed to name it. The post stated that Huobi was recently purchased by the SBF led company and that it would be renamed HTX. The post went on to be cited by other crypto media outlets.

This rumor came after Leon Li , the founder of Huobi, decided he wanted to sell a majority stake in the company. Justin Sun of Tron was stated to be interested in investing but that turned out to be a rumor as well. FTX was cited as the possible front runner after Sun’s denial, recently Bankman-Fried has ended all possibility of that rumor being true.

Thailand’s SEC confiscated the license of Huobi and Malaysia’s regulators are considering putting the company on an investor warning list. There are definitely issues being faced by the company in Southeast Asia at the moment. These issues may be some of the contributing factors to Mr. Li seeking to sell a majority of the company off.

Sam Bankman-Fried has been known to sign deals to bail out ailing crypto projects such as BlockFi and Voyager but seems the crypto entrepreneur is not interested in bringing the same attitude to Huobi. Some members of the FTX community see a rather comical side to all of this after the rumor has been dispelled.


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