FTX CEO denies the exchange was planning to acquire Huobi


FTX has been energetic within the acquisitions enviornment this yr, snapping up corporations like Liquid and Bitvo amid the crypto winter.

Sam Bankman-Fried, the CEO of crypto change FTX, has stated his firm doesn’t plan to accumulate cryptocurrency change Huobi.

The FTX boss, whose agency has in latest months dominated information headlines round big acquisition and enlargement efforts amid the crypto winter, famous in a tweet on Monday:

“Simply to be express as a result of apparently lots of people are saying this: No, we’re not planning to accumulate Huobi.”

Huobi launched in 2013, one of many earliest cryptocurrency exchanges, and one with a rising footprint following institutions in Korea and Hong Kong.

FTX’s acquisitions and plans

Bankman-Fried’s remarks come after studies surfaced of FTX being in talks to accumulate Huobi. 

Based on one such latest report, Huobi founder Leon Li had mentioned the sale of a majority stake in his firm to FTX, with the potential bid then placing the change’s valuation at round $3 billion.

Stories additionally claimed that Tron (TRX/USD) founder and former CEO Justin Solar had additionally proven curiosity in Huobi. Solar additionally refuted the declare.

FTX’s development plans regardless of the crypto winter embody acquisition of crypto change Liquid and buying and selling platform Bitvo. 

The agency, which additionally has an settlement to accumulate crypto lender BlockFi, has reportedly additionally been in talks to accumulate South Korea-based crypto change Bithumb.

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