ustin Sun, the founder of TRON denies raising funds for Huobi
Defi and Exchanges

Justin Sun, the founder of TRON denies raising funds for Huobi

Justin Sun, the founder of Tron, has denied reports that he is looking to raise funds to acquire a majority stake in Huobi. Reports had suggested that Sun was looking to create a “cryptocurrency tycoon” by acquiring a stake through discussions with investors.

Indeed, the press reported last week that Justin Sun was talking to investors in connection with a stake sale in Huobi.

In an April 4 tweet, Sun said the reports were “false” and that it had “no intention” of acquiring a stake in Huobi.

As much as I love April Fools’ Day, I must deny the report that Huobi is looking for a shareholder. Rest assured that Huobi is committed to providing its users with a safe, reliable and innovative platform for trading and investing in cryptocurrency,” he tweeted.

Reports of Sun’s alleged bid for Huobi had been circulating in the media since early April. Some reports suggested that Sun was seeking a stake in the exchange as part of its ongoing efforts to expand its influence in the crypto-industry. Sun is known for its high-profile marketing campaigns and aggressive acquisition strategies.

As a reminder, acquired by About Capital last year and since advised by Justin Sun, Huobi has seen its market share drop to 4% in 2022 from over 20% in 2020 before the tightening of the cryptocurrency ban in China.

Article written by:

Laeti Marison, also known as SatoshiBelle, is a multifaceted professional with a passion for community management, content creation, and digital marketing. With a diverse background in various roles, Laeti has consistently demonstrated her expertise and dedication in the field. Recognizing her potential, Laeti then took on the responsibilities of a Project and Community Manager at Magna Numeris and Cartam from November 2018 to March 2021. In this role, she showcased her ability to successfully lead projects and foster strong relationships within the community. Currently, Laeti serves as an SEO content writer, Digital Marketing Manager, and co-founder at magazine, starting from February 2022 till now. Through her expertise in digital marketing and her passion for the crypto industry, she has contributed to the success of the magazine, ensuring its content remains relevant, engaging, and informative.

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