Connect with us
Active Currencies 14557
Market Cap $2,672,579,088,691.18
Bitcoin Share 49.87%
24h Market Cap Change $-1.31

Tron’s Sun had this to say about his “alleged” deal with Binance’s CZ

2min Read
Tron's Sun: No talks about Huobi purchase with Binance's CZ

Share this article

  • Tron’s creator dismisses reports about Binance turning down the offer to buy a stake in Huobi
  • Sun claimed that there were no discussions held with CZ about Huobi in the last week or so

Tron’s founder – Justin Sun – spoke up about the recent news circulating the cryptocurrency exchange, Huobi. The crypto entrepreneur was allegedly trying to sell his stake to Binance – the world’s largest crypto exchange, according to Coindesk’s sources. However, the proposal was turned down by Binance because of rumors about Huobi’s ties to China.

Is your portfolio green? Check out the Tron Profit Calculator

Tron’s creator dismisses Huobi sale talks with CZ

Notably, Tron’s creator denied reports of acquiring a stake in Huobi, after About Capital – an asset management platform – acquired a 60% stake in the exchange. Sun, however, claimed that he serves as an advisor to the exchange, with Huobi stating that the exchange was under his leadership.

Speaking on the report, Sun stated that the crypto exchange has “no intention of changing ownership” on Twitter. In a separate tweet, he stated that Binance was one of Huobi’s “most important partners.” Sun added that no offer was made on Huobi to Changpeng Zhao (CZ) – the co-founder of Binance – last week. He said,

“We have always regarded @binance as one of our most important partners and will continue to work closely with them on all levels. However, I must point out that in the past week or so, I have not proposed any offer to @cz_binance regarding the purchase of @HuobiGlobal , nor have we even discussed Huobi in the past week or so. “

Moreover, Bloomberg published a similar report claiming that Sun was trying to sell an undisclosed stake in Huobi Global in order to raise funds for the exchange. Tron’s creator, however, dismissed the report by labeling it as an “April Fool’s Day prank”.

The exchange laid off about 20% of its staff earlier this year, citing the crypto bear market as the reason. Additionally, the crypto exchange is looking to move its headquarters to Hong Kong, which is currently based in Singapore.

Justin Sun has been the highlight ever since the United States Securities and Exchanges Commission (SEC) disclosed charges against him. In a press release, the commission claimed that Tron’s token – TRX, and BitTorrent’s token – BTT were securities.

And, since their sale took place without registration, all the involved entities committed securities fraud, according to the SEC. The commission also claimed that Sun was fraudulently manipulating the price of TRX in the secondary market and allegedly directed his employees to engage in wash trading.


Priya is a freelance cryptocurrency writer at AMBCrypto. A student in business administration, Priya focuses on the latest developments in the cryptocurrency and blockchain technology space.
Read the best crypto stories of the day in less than 5 minutes
Subscribe to get it daily in your inbox.
Please check the format of your first name and/or email address.

Thank you for subscribing to Unhashed.