In an email, the Huobi cryptocurrency exchange team denied rumors of a merger with Poloniex, reported coindesk.
This information was labeled “categorically untrue” by Huobi. The platform made note of the companies’ independent operations.
According to journalist Colin Wu, who cited his own sources, a merger might have occurred on November 25. Justin Sun, the founder of Tron, denied the reports but did not rule out a subsequent occurrence of a similar nature.
As part of a group of investors, the businessman acquired Poloniex in 2019. Sun initially denied having any part in the transaction.
A majority ownership stake in the Hong Kong-based investment firm About Capital Management will be sold by Huobi Global in October 2022. Financial information was kept between the parties private.
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Tron Creator – Justin Sun
Wu claimed that Sun was the final purchaser and the main gainer. The sum might reach $1 billion. Tron creator claimed that he was not a part of the transaction. He served on the advisory board, according to exchange representatives.
Remember that Huobi announced a rebranding at the end of November, ending the use of the name Huobi Global as its official name.
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