Binance says no to Justin Sun’s offer to buy his Huobi stake
Join Our Telegram channel to stay up to date on breaking news coverage Justin Sun, the CEO of Tron, recently offered Binance, the world’s largest exchange by volume, to purchase his ownership stake in Huobi — one of Binance’s major rivals. However, according to an unnamed individual familiar with the matter, Binance decided to turn down the offer. Binance appears to have no interest in buying Huobi due to the rumors of the exchange having ties to mainland China. Binance itself wants nothing to do with China, according to the insider. Furthermore, only about a month ago, Justin Sun stated in an interview that Huobi wishes to obtain a license in Hong Kong and launch a new subsidiary there. The new exchange would simply be Huobi’s Hong Kong branch, known as Huobi Hong Kong. Sun’s own involvement with Huobi is currently also unknown to the public. While he does have an ownership stake, Huobi was bought by another company called About Capital in October...