Binance Rejects Mr. Sun’s Offer to Buy Huobi Stakes: Officials | coindesk JAPAN | Coindesk Japan

Binance recently turned down an offer to buy shares in rival exchange Huobi owned by Tron blockchain founder Justin Sun. A person familiar with the matter said.

Binance was not interested in Huobi because it is said to have ties to mainland China. In an interview with CoinDesk TV last month, Sun said he wanted to get a license in Hong Kong and launch a new exchange called Huobi Hong Kong.

Sun’s involvement with Huobi remains unclear. A company called About Capital acquired Huobi in October 2022. A representative for Mr. Sun said he had nothing to do with About, but Huobi confirmed in January that Mr. Sun was the leader. Last week, Sun tweeted that the speculation was an “April Fool’s joke” after a Bloomberg report that he was looking to sell a stake in Huobi.

Sun has reportedly owned a majority stake in Huobi on Binance, the person said. Sun’s offer was said to have been made directly to Binance CEO Changpong Zhao around last week.

“I have to point out that I have not made an offer to Mr. Zhao to buy Huobi over the past week or even discussed Huobi,” Sun tweeted after the article was published.

“We have no comments to make,” said a Binance spokesperson.

According to CoinDesk data, the cryptocurrency Tron (TRX) has fallen to a 24-hour low since this article was first published.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
｜Image: Justin Sun (CoinDesk)
｜Original: Binance Rejected Justin Sun’s Offer to Buy His Huobi Stake: Source