" ], "_oembed_time_9baa22ca95f7d3a293ac85777290295d": [ "1665510034" ], "_mts_view_count": [ "1" ], "_wpt_view_count": [ "2" ] }, "image": [ { "@type": "ImageObject", "@id": "https://www.bitcoinlinux.com/2022/10/11/founder-of-crypto-exchange-giant-huobi-sells-his-shares-to-hong-kong-based-asset-manager/#primaryimage", "url": "https://i0.wp.com/www.bitcoinlinux.com/wp-content/uploads/2022/10/Get-Alerts-728x90-84.png?fit=2190%2C276&ssl=1", "width": "2190", "height": "276" }, { "@type": "ImageObject", "url": "https://www.bitcoinlinux.com/wp-content/uploads/2022/10/Get-Alerts-728x90-84.png", "width": 2190, "height": 276 } ] }]

Founder of Crypto Exchange Giant Huobi Sells His Shares to Hong Kong-Based Asset Manager

Huobi founder Leon Li is selling his shares in the crypto exchange to Hong Kong-based asset manager About Capital Management.

Li was a controlling shareholder in the company and sold 100% of his holdings, according to a press release from Huobi.

After purchasing a majority stake in the exchange, About Capital Management formed a new advisory board for Huobi, which includes About Capital CEO Ted Cheng and Tron (TRX) founder Justin Sun.

In August, Sun denied “engaging in any matters” relating to a Bloomberg story that cited anonymous sources who said he had shown an interest in purchasing Li’s shares.

About Capital also says Huobi will “embrace a series of new international brand promotion and business expansion initiatives,” including “the injection of sufficient capital in margin and risk provision fund.”

Explains Sun,

“Having completed its exit from the mainland China market, Huobi Global will be embarking on a series of branding activities and business developments after the acquisition. Instead of releasing new tokens, our key focus will be on supporting the Huobi Token (HT) to strengthen its place in the virtual assets industry.”

Huobi’s native token, HT, has been surging since the announcement. The 66th-ranked crypto asset by market cap is trading at $5.05 at time of writing and is up over 17% in the past 24 hours.

Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Check Price Action

Follow us on Twitter, Facebook and Tumblr

Surf BitcoinLinux Mix

Check Latest News Headlines

Check Latest Coin Values at CoinPrice.Watch


Get Alerts 728x90 84
Disclaimer: Opinions expressed at BitcoinLinux are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. BitcoinLinux does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is BitcoinLinux an investment advisor. Please note that BitcoinLinux participates in affiliate marketing.

Featured Image: Shutterstock/Antonov Serg/Sol Invictus

The post Founder of Crypto Exchange Giant Huobi Sells His Shares to Hong Kong-Based Asset Manager appeared first on BitcoinLinux.