Given that Huobi Global is based in China where crypto is now banned, Justin Sun, the founder of Tron, said to have taken the place of the former Huobi CEO.
Justin Sun, the founder of Tron, purchases the Huobi Global
According to rumors, Justin Sun, a renowned cryptocurrency expert and the creator of the well-known cryptocurrency trading platform Tron, has bought Huobi, major player in the cryptocurrency market.
According to several press releases on the cryptocurrency-focused official page, Huobi’s Chief executive officer, PR director, and several other executives have left the company. Justin Sun took full control of the Huobi Global company after one month of serving as an advisor.
Zhu Hua, a past Huobi Chief executive officer, and Chen Dai, a past Huobi PR/GR director, have formally left the company, according to WuBlockchain. On November 4, Zhang Li, Huobi’s former CFO, submitted his notice of resignation.
Things that happened that made Sun the CEO of Huobi
According to a statement made at the time, Justin Sun joined Huobi Global’s team as an advisor on the global strategic advisory board earlier this year, in October, along with a number of other well-known figures from the cryptocurrency sector.
The agreement allowed Justin Sun to oversee the company’s international growth and overall infusion to boost its effectiveness. After he joined Huobi, the value of HT grew by about eighty percent that week.
Justin tweeted about his role as an advisor a month after the company made public the fact that Leon Li, the founder, had sold all of his controlling interests to About Capital Management of Hong Kong. In response to the news, the price of Huobi Token (HT) increased by more than 5%, peaking at four and a half dollars.
The exchange level increased with the arrive of the new owners. Numerous studies states that the actual purchaser of Huobi is Justin Sun, a significant stakeholder in About Capital.
But he still has proceeded to refute any assertions that he bought Huobi. Sam Bankman-Fried, the founder of FTX, is said to have bought a stake in Huobi in addition to Sun.
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