Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO, Or SBF.
In a Monday tweet, SBF explicitlya Bloomberg report that claimed FTX was planning to purchase crypto exchange Huobi. Cointelegraph reported on Aug. 12 that Huobi co-founder Leon Li was , valued at more than $1 billion, in the company.
“We are not planning to acquire Huobi,” said SBF.
Just to be explicit because apparently a lot of people are saying this:
No, we are not planning to acquire Huobi.
— SBF (@SBF_FTX)
Under SBF’s leadership, both FTX and Alameda Research have stepped in a few times amid the bear market to bail out crypto firms facing liquidity issues. In a June NPR interview, Bankman-Friedhad “a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion” as it would be “healthy for the ecosystem.”
Hein a June 19 tweet:
“We want to help those we can in the ecosystem, and have no interest in hurting them — that just hurts us and the whole ecosystem.”
In June, Alameda offered Voyager Digital a 200-million USD Coin () loan and a “revolving line of credit” of 15,000 Bitcoin ( ), worth roughly $300 million at the time. FTX also to BlockFi, a company which reportedly in 2022 despite cutting 20% of its staff.
in July as part of its move into the Canadian market, and the Japan-based Liquid Group and its subsidiaries in February. However, in August regulators targeted FTX US for allegedly related to crypto holdings.