Justin Sun admits to owning Huobi

At the beginning of October this year, Hong-Kong based asset management company About Capital bought a controlling stake in Huobi. Right after that, the rumors of Justin Sun, the founder of TRON, being involved in the deal were spread. Only after a month after denying his position and saying he’s probably the biggest holder of Huobi tokens, he acknowledged on Twitter that he’s the new owner.

Among other things, he stated: 

“First of all, financial security. Huobi is an “old school” exchange that has had no serious problems for 9 years. Brother Sun (that’s what Justin calls himself) will love it just as much as his other “kids” (after all the deal’s worth over a billion and should bring in money).”

In the Bloomberg interview, Sun also discussed plans for the future. He wants to expand Huobi’s presence in the global market. And if circumstances allow, even return the company to China.

As for the FTX fallout, Justin Sun stressed that he was not renouncing his support for FTX in its difficult situation. Moreover, he claimed to cooperate with the liquidators in the bankruptcy process of the company.

On Nov. 11, Sun told Tom Mackenzie, the anchor of Bloomberg TV, that he’s prepared to provide FTX with billions in aid, but it can be done after the full diligence”. He also pointed out that by doing this he’s showing unity in the crypto industry.

To recap, the official FTX channel announced the opening of a TRON credit facility to help the users of the insolvent crypto exchange. FTX holders can withdraw listed tokens to external wallets, albeit partially.