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FTX CEO Bankman-Fried says it has no plans to buy crypto exchange Huobi

FTX CEO Bankman-Fried says it has no plans to buy crypto exchange Huobi

FTX is not planning to acquire crypto exchange Huobi, the company’s founder and CEO Sam Bankman-Fried said on Twitter.

He wrote: Just to be explicit because apparently a lot of people are saying this: No, we are not planning to acquire Huobi.

FTX CEO Bankman-Fried

FTX CEO Bankman-Fried says it has no plans to buy crypto exchange Huobi

Bankman-Fried’s comment follows a recent Bloomberg article naming FTX and Tron founder Justin Sun among a list of investors that have had “preliminary contact” with Huobi as its founder Leon Li looks to sell about 60% of the company.

Li is seeking a $2 billion to $3 billion valuation for the company and has reached out to “several international institutions,” according to Bloomberg.

But following the publication of that report, Bankman-Fried took to Twitter to quash the idea of his firm’s involvement.

“No, we are not planning to acquire Huobi,” Bankman-Fried wrote. “Apparently, a lot of people are saying this.”

FTX has recently sought to acquire a series of troubling crypto firms amid crypto winter. For instance, it gave financial services firm BlockFi a multi-million-dollar bailout.

FTX US, the American subsidiary of global crypto exchange FTX, also recently announced that it is acquiring Canadian crypto trading platform Bitvo.

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