Huobi’s boss, Leon Li has indicated his readiness to sell his holdings in the company for a whooping sum of between 2 – 3 billion dollars.
The chairman of a major crypto exchange (Huobi Group), Leon Li, is reportedly in close communication with several possible buyers for a favourable deal as he plans to sell off his majority stocks which account for about 60% of what the company has.
No date has been given for the bargain but some have suggested that it could happen by or before the end of the month if the terms work out well between Li and the purchaser. One major consideration that’s a motivating factor behind Li move, is that he considers that the new investors will add their resources, and wealth of experience to Huobi thereby boosting its brand equity.
Speculated Investor
Some associates of Huobi’s boss are being rumoured to be interested in purchasing the advertised assets. One of them, Justin Sun, denied knowledge of such. The company which is one of the foremost cryptocurrency entities globally faced a recent clampdown by the Chinese government and this contributed to a diminishing of its fortunes.
The company though headquartered in Seychelles was created in 2013 by Li in China. It is making efforts to advance its operations in some other countries.
Like several other exchanges that had to trim their workforce in the face of the downturn rocking the crypto markets, Huobi reduced its staff strength to about 70%.
