Li Lin, founder of Huobi
Investors such as Tron founder Justin Sun and cryptocurrency billionaire Sam Bankman-Fried’s FTX have made initial contact with Huobi about the share transfer.
Li Lin is seeking a valuation of $2 billion to $3 billion for Huobi, which means the stake he sells is worth more than $1 billion (about 6.738 billion yuan). The deal could close as soon as the end of this month.
A Huobi spokesman confirmed that Li Lin was in contact with several international institutions about the stake sale, but declined to provide details.
“He expects the new shareholders to be stronger and more resourceful, to value Huobi’s brand, and to devote more capital and energy to the growth of Huobi,” the spokesperson said in an emailed statement.
Justin Sun responded by text message that he had not had any negotiations with Li Lin over the sale of Huobi shares. An FTX spokesman declined to comment.