Huobi co-founder Considers Selling Majority Stake Worth Over $1B


The co-founder of Huobi, Leon Li, has reportedly considered selling a major part of his stake in the company, valued at over $1B.

According to the report by Bloomberg, Leon Li had discussed with several financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion.

According to another source that pleaded anonymity, Li had informed other backers of the global crypto exchange of his decision during a shareholder meeting earlier this year in July.

To support these claims, Leon Li had asked Hua Zhu to take over his CEO duties while he caters to his health.

The deal may be finalized by the end of August and, if completed, may become the biggest crypto deal since after the market turmoil experience in May 2022.

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