Chinese founder of crypto exchange in talks to sell $3bn majority stake - reports

Mark Battersby

12th August, 2022

1 min read

Chinese crypto exchange founder Leon Li is in talks with investors to sell his majority stake in the Huobi Group at a valuation of up to US$3bn, according to a report by Bloomberg.

He held discussions with financiers, seeking to sell around 60% of the company he founded, according to people familiar with the matter.

Tron founder Justin Sun and crypto billionaire Sam Bankman-Fried's FTX are among those who have had preliminary contact with Huobi about a share transfer, the people said.

A Huobi spokesman confirmed to Bloomberg that Li is engaging with several international institutions about the stake sale without giving any more details.

Huobi is a Seychelles-based cryptocurrency exchange. Founded in China, the company now has offices in Hong Kong, South Korea, Japan and the United States. In August 2018 it became a publicly listed Hong Kong company.

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