Crypto Exchange Huobi Global to be Acquired by About Capital

The terms of the deal were not disclosed.

AccessTimeIconOct 7, 2022 at 11:16 p.m. UTC
Updated May 9, 2023 at 3:58 a.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Crypto exchange Huobi Global, one of the biggest token trading outposts in the Asia markets, said late Friday that it has agreed to be purchased by Hong Kong-based investment company About Capital Management's M&A fund.

In a blog post, Huobi Global, a top-10 exchange by trading volume, said About will “control the majority stake” of Huobi once the deal closes and the ownership transfer will have no impact on trading operations.

The news comes after months of speculation and reports that founder Leon Li was seeking a buyer for his nearly 60% stake in Huobi, and was asking for at least $1 billion. The terms of the deal with About Capital were not disclosed.

Under new ownership, the exchange is plotting an international expansion and will receive an “injection of sufficient capital in margin and risk provision fund,” the blog post said.

In a statement, Li, who founded Huobi in China in 2013, said the exchange's late 2021 departure from the Chinese mainland kicked off a globalization push that will now accelerate under About Capital.

Huobi's native token HT rose sharply on the news.

UPDATE (Oct. 8, 2022 23:32 UTC) – Adds information and context throughout.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Danny Nelson

Danny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.

Read more about