The selling of Huobi Group founder's majority stake in the crypto-exchange could be the industry's biggest takeover since a $2 trillion global crypto rout started, according to Bloomberg.
The report has been shared by people familiar with the matter. They added that the Chinese crypto-mogul has already been in contact with Tron founder Justin Sin and crypto-billionaire Sam Bankman-Fried's FTX for a share transfer.
The source disclosed that Li is seeking a valuation of between $2 billion to $3 billion, which means that the scale could fetch upwards of $1 billion.
Furthermore, they said that existing backers - ZhenFund and Sequoia China - were informed about Li's decision during a July shareholders' meeting, and the deal could possibly be closed as soon as the end of this month.
"He 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 the growth of Huobi," a Huobi spokesperson said in...
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