New reports claimed that Li Lin is aiming for an exit from the company he helped found years ago. The executive owns a majority stake at Huobi, with over 50%.
The blockchain journalist Colin Wu took it to Twitter earlier today to inform that Lin has decided to liquidate his majority stake in the cryptocurrency exchange, indicating that he “currently holds more than 50% of the shares.”
EXCLUSIVE: Huobi founder Li Lin is looking to sell his stake in Huobi. Li Lin currently holds more than 50% of the shares. The second largest shareholder of Huobi is Sequoia China. Huobi’s revenue plummeted after it wiped out all Chinese users and is laying off staff. https://t.co/67KOlW9aT9
— Wu Blockchain (@WuBlockchain) July 1, 2022
Huobi is among the largest digital asset trading platforms and was well-positioned within the top three in terms of volume and user base until recently. Wu even said that Huobi was the second-most profitable exchange last year, with over $1 billion in profits.
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