Huobi Group founder Leon Li is engaged in talks with a group of investors as the Chinese entrepreneur is looking to sell his majority stake in the crypto exchange at a valuation between $2 billion to $3 billion, according to a Bloomberg report.
People close to the matter, said FTX founder Sam Bankman-Fried and Tron founder Justin Sun are among the investors who have held preliminary talks with the Huobi boss.
Li is reportedly seeking to sell about 60% of the firm. A potential deal could bring the Huobi founder more than $1 billion, making it one of the biggest in the crypto industry to date.
Huobi's existing investors, including ZhenFund and Sequoia China, were reportedly informed about Li’s intentions during a shareholder meeting in July, with one person saying that a deal could be completed before the end of the month.
“He [Li] hopes that the new shareholders will be more powerful and resourceful, and that they will value the Huobi brand and invest more capital and energy to drive...
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