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HomeUncategorizedSam Bankman-Fried denies FTX is looking to acquire Huobi

Sam Bankman-Fried denies FTX is looking to acquire Huobi

FTX has been active in acquisitions this year, snapping up companies like Liquid and Bitvo during the crypto winter .

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, said his company has no plans to acquire cryptocurrency exchange Huobi.

The FTX boss has grabbed headlines in recent months with his massive acquisition and expansion efforts during the crypto winter, noting in a tweet Monday:

Just To be clear, because obviously a lot of people are saying: No, we are not going to acquire Huobi.”

Just to be clear, because apparently a lot of people say this:

No, we are not planning to acquire Huobi.

— SBF ( @SBF_FTX) August 29, 2022

Launched in 2013, Huobi is one of the first cryptocurrency exchanges and is growing its established footprint

FTX’s acquisition and plans

Bankman-Fried’s comments follow reports that FTX was in the process of negotiating an acquisition currency for negotiation.

According to a recent such report, Huobi founder Li Ang had discussed selling a majority stake in his company to FTX, and a potential bid would give the exchange’s valuation The value reaches around $3 billion.

The report also said that Justin Sun, founder and former CEO of TRON (TRX/USD), has also shown interest in Huobi. Sun also refuted this claim.

Despite the crypto winter, FTX’s growth plans include the acquisition of cryptocurrency exchange Liquid and trading platform Bitvo.

The company has also reportedly reached an acquisition agreement with cryptocurrency lender BlockFi, and is also reportedly in talks to acquire South Korean cryptocurrency exchange Bithumb.

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