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News Explorer — Binance Declined Offer to Buy Justin Sun's Huobi Stake: Report

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Apr 5, 4:24 pm
Coindesk

Binance Declined Offer to Buy Justin Sun's Huobi Stake: Report

Binance, the world's largest cryptocurrency exchange, recently declined an offer to acquire Justin Sun's ownership stake in rival exchange Huobi due to rumors of its ties to mainland China, according to a report from CoinDesk. The extent of Sun's involvement with Huobi has been kept secret, and Binance has been led to believe that he owns a majority stake. Sun's offer was made directly to Binance CEO Changpeng Zhao within approximately the last week, a source said.

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