Justin Sun, the founder of the blockchain DAO ecosystem Tron and a business executive, has denied a recent report claiming that he has been in talks with potential investors to sell a stake in the crypto firm Huobi. According to Sun, Huobi has no plans to seek out or accept any buyers.
As of April 1st, according to an individual with knowledge of the situation, Bloomberg, a television news outlet, announced that the founder of Tron has been in discussions with investors for the past week regarding the possibility of selling a share in Huobi.
Confidentiality surrounds Huobi’s stake
While acknowledging the sensitivity of the matter, the individual privy to the information chose not to disclose their identity. They did, however, reveal that no additional information regarding the action is available, and it remains to be seen if the investors proceed with the proposal.
Sun swiftly reacted on his official Twitter account, indicating that the information was wrong, to refute the accusation that Huobi Global is seeking a buyer for its part. He did so by declaring that the information was untrue. He said it seemed more like an April Fool’s joke than anything else.
As much as I love a good April Fool's Day prank, I must deny the report that @HuobiGlobal is seeking a stake buyer. Rest assured, Huobi is committed to providing our users with a safe, reliable, and innovative platform for trading and investing in cryptocurrency. ❤️
— H.E. Justin Sun 孙宇晨 (@justinsuntron) April 1, 2023
The crypto entrepreneur has been significantly expanding Huobi’s trading globally by attracting Chinese customers after lifting the crypto ban in China. However, he recently disclosed that the company has been experiencing significant setbacks, losing nearly $10 million monthly over the past few months.
Sun reaffirms Huobi’s commitment
In response to Bloomberg’s report, Sun refuted the claim and reiterated Huobi’s dedication to its customers, stating that the company is committed to delivering a secure, dependable, and cutting-edge platform for cryptocurrency trading and investment.
According to the article, it is significant that Sun’s link with Huobi has yet to be clarified, and this is a mystery. Even though he calls himself an “advisor” and denies having any ownership in the company’s shares, he has nonetheless contributed approximately $200 million in capital to the business.