- In mid-August, Bloomberg reported that FTX had held preliminary talks with Huobi founder Leon Li to buy a majority stake in Huobi that would value the firm at $3 billion or more. The report said that a deal could be completed as soon as the end of this month, and that Justin Sun, founder of the Tron blockchain network, was also interested in bidding on the stake. Sun denied any interest in a tweet.
- Huobi’s native token HT declined about 6% following Bankman-Fried’s tweet.
UPDATE (August 29, 16:37 UTC): Added details about Robinhood.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.