FTX CEO Sam Bankman-Fried publicly denies Huobi acquisition rumors

FTX to Freeze Deposits, Withdrawals on Solana, Arbitrum Blockchains Amid Merge Transition

The company’s founder and CEO Sam Bankman-Fried said on Twitter that FTX is not planning to acquire crypto exchange Huobi. Bankman-Fried’s comments come after a recent article by Bloomberg named FTX and Tron founder Justin Sun on a list of investors who have had “early contact” with Huobi as founder Leon Lee of the company. sell about 60 percent of the stake. According to the report, Lee is seeking a valuation of $2 billion to $3 billion (about Rs 16,000 crore to Rs 24,000 crore) for the company and has reached out to “several international institutions”.

“No, we do not plan to acquire Huobi,” Bankman-Fried wrote. “Obviously a lot of people are saying that.” Meanwhile, Justin Sun has also publicly announced that his company was not involved in any negotiations with the matter.

Sam Bankman-Fried has been dubbed “The Next Warren Buffett” For his acquisition by Forbes during this crypto bear run. His ventures are providing financing to a lot of companies.

In July, FTX provided a revolving credit of $250 million (about Rs 2,000 crore) to BlockFi, a crypto lender that halted withdrawals after Three Arrows Capital. Banksman-Fried later praised BlockFi for “careful risk management and great leadership” in “removing troublesome counterparties before they become a problem.”

Another Bankman-Fried-owned company, quantitative trading firm Almeida, has pledged $500 million to finance a troubled crypto broker Voyager Digital to help its clients gain quick liquidity via FTX and recover part of their funds. around Rs 4,000 crore). It was an offer that Voyager later rejected, describing it as an attempt to generate publicity.

FTX revenue up more than 1,000 percent over last year, leaked documents Reviewed by CNBC has shown. The company’s capitalization grew from $90 million (about Rs 800 crore) in 2020 to over $1 billion (about Rs 8,000 crore) in 2021 at the peak of the market, thanks to several acquisitions and marketing campaigns including the 2022 Super But despite spending lakhs. Bowl advertising and naming rights to the NBA arena of Miami.


Please enter your comment!
Please enter your name here