FTX founder and CEO Sam Bankman-Fried has denied rumors that the crypto exchange had acquired competitor Huobi, Pandaily reported.
Bankman-Fried made a Twitter post regarding the topic, clarifying that the company is “not planning to acquire Huobi.”
This follows reports that Huobi founder Leon Li was looking to sell a 60% stake in the company, with preliminary talks held between Huobi and FTX as well as with Justin Sun, founder of blockchain ecosystem Tron.
Huobi denied the report about the stake sale, saying that “no plan has been made on the share transfer of major shareholders.” Sun also said that he was not involved in the deal.
In July, Huobi applied for a trading license to operate in Hong Kong, which follows the exchange acquiring licenses in New Zealand and the United Arab Emirates.
See also: How this rarest of crypto startups is shrugging off winter
Editing by Miguel Cordon and Lorenzo Kyle Subido
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