Sources say that Justin Sun, the inventor of Tron, is in talks to sell some of his holdings in Huobi Global, a crypto exchange.
Last year, Justin Sun paid $1 billion for the crypto exchange after Hong Kong-based investment firm About Capital, run by Leon Li, the exchange’s creator and main shareholder, bought it.
Justin Sun questions the sale of his Huobi Global shares
according to a fountain with intimate knowledge of the situation he spoke with BloombergJustin Sun has spoken to potential investors about selling a stake in Huobi Global.
A member of Huobi Global’s global advisory board said Justin Sun had contacted investors about selling some of his shares. Despite Justin Sun’s denials of having any ownership interest in Huobi, he has contributed roughly $200 million to the exchange’s support since January.
On the other hand, Justin Sun denied ever discussing the sale of a stake in Huobi Global, calling the article an April 1 joke.
He also stated that the company is dedicated to offering secure crypto transactions and investments and has yet to make plans to find a new owner.
Despite the purchase of Justin Sun, Huobi’s trading volume continues to decline. The trading volume of the crypto exchange fell below the top ten in the last twenty-four hours.
The SEC accuses Justin of violating securities laws
In March, the United States Securities and Exchange Commission (SEC) charged Justin Sun with violating securities laws. He is also charged with violating fraud and market manipulation laws. However, he claims that the action is “void of validity” and will continue to build a decentralized banking system. He also criticized the SEC for not introducing transparent regulatory rules and rules of conduct.
Huobi Announced a strategic alliance with Gala Games for web3 and layer 1 development to support the blockchain ecosystem this week.
The current price of Huobi Token (HT) is $3.66. Despite a general market recovery, the token price has moved sideways over the past week.
