Justin Sun Denies Binance vs Huobi Global Controversy

Tron’s founder confirmed that Huobi Global never reached out to Binance exchange to sell Huobi stakes. 

Justin Sun is the founder & Investor in several crypto projects. He is known for Tron (TRX), Jst coin, Sun coin, Winklink coin, ApeNFT coin, BitTorrent coin, and Poloniex exchange. In the present time, he is senior advisor at Huobi Exchange and reportedly he owns the majority of the stakes in Huobi Global Exchange but he never admitted such reports.

On 5 April 2023, Coindesk news media reported that an anonymous source told that Justin was trying to sell his Huobi stakes to Binance exchange but Binance rejected his offer. 

SCOOP: @binance rejected @justinsuntron’s recent request to buy his stake in @HuobiGlobal, according to a person familiar with the matter.@IanAllison123 reportshttps://t.co/Ea3daaM6Bb

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— CoinDesk (@CoinDesk) April 5, 2023

Tron founder Justin responded against this news and confirmed that the report is wrong and also confirmed that Binance & Huobi are in a healthy partnership to grow in this sector.

We have always regarded @binance as one of our most important partners and will continue to work closely with them on all levels. However, I must point out that in the past week or so, I have not proposed any offer to @cz_binance regarding the purchase of @HuobiGlobal , nor have… https://t.co/S1aXSlZoNv

— H.E. Justin Sun 孙宇晨 (@justinsuntron) April 5, 2023

Earlier on 1 April, Justin tried to fool his followers, where he said that Huobi Global was looking to sell some of its stakes to raise funds but on the same day, he confirmed that it was not more than an April fool joke.

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

Rumors in the crypto sector post FTX bankruptcy 

In Nov 2022, the second-ranked popular crypto exchange FTX collapsed badly and in the same month, he filed bankruptcy under the Chapter 11 code in a US district court. 

After the meltdown of the FTX exchange, almost every Crypto exchange faced negative news.

Huobi Global, crypto.com, Binance, and Kraken were the top crypto companies to face negative impacts after the downfall of FTX. But transparent & proper financial operations by these companies helped them to survive easily.

Read also: CNBC host says I will not touch Coinbase shares

Justin Sun Denies Binance vs Huobi Global Controversy

 

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