Justin Sun Negates CoinDesk’s Claim about Offer to Binance
Justin Sun, the founder of Tron blockchain, has denied CoinDesk’s claim that the world’s largest cryptocurrency exchange, Binance, declined an offer to buy his shareholding in rival exchange, Huobi. Sun made the statement via Twitter. In his statement, he said that he has not made any proposal to CZ about buying a share of Huobi and that they have not discussed Huobi in the past week.
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
Binance Declines Offer to Acquire Justin Sun’s Shareholding in Huobi
According to an unidentified source with knowledge of the situation, Binance did not express interest in Sun’s offer to sell his shareholding in Huobi due to allegations that Huobi has links to China, which Binance wants to avoid. The source also revealed that Binance was given the impression that Sun holds the bulk of Huobi’s shares.
The extent of Sun’s engagement with Huobi has been kept under wraps until now. In October of last year, About Capital purchased Huobi, and Sun’s agents have said that he is not affiliated with About. However, Huobi has stated on multiple occasions that Sun is a key member of the About leadership team. Last week, in response to a Bloomberg story claiming that Sun was attempting to sell his investment in Huobi, he compared such conjecture to an April Fool’s prank.
Justin Sun Reveals Huobi’s Plans to Create Exchange in Hong Kong
During an interview with CoinDesk TV that took place a month ago, Sun stated that Huobi is planning to create a new exchange in Hong Kong under the name Huobi Hong Kong and obtain a license there. Binance has been consistently acknowledged as one of the most essential partners by Sun. They will continue to collaborate closely across all aspects of their business.
A spokeswoman for Binance responded to the claim that the exchange declined Sun’s offer by stating that they do not have any remark to offer at this time. It remains to be seen whether Binance will revisit the offer to acquire Sun’s shareholding in Huobi in the future. However, for the time being, it seems that the two exchanges will not be collaborating on this front.
