Huobi co-founder Leon Li is in talks with a group of investors to sell his 58% stake. According to people familiar with Bloomberg, the Bitcoin exchange is worth between $2 billion and $3 billion.

According to the publication, potential buyers include Justin Sun, founder of the Tron Foundation, and Sam Bankman-Fried, founder of FTX and Alameda Research.

The deal could close at the end of August. Major shareholders ZhenFund and Sequoia China were briefed on the ongoing negotiations at the July shareholders meeting.

A spokesperson for the platform confirmed the pending deal, but declined to reveal details. FTX declined to comment, and Justin Sun denied any meeting with Lee.

The agency struggled to answer a question whether Hong Kong-registered Huobi Technology Holdings would be included in the deal. The firm manages digital assets for professional investors and is licensed by a local securities regulator.

Recall that in September 2021, amid a new wave of pressure from Beijing, Huobi stopped registering new users in mainland China.

A month later, Huobi finally restricted trading in futures and other crypto derivatives in China.

In 2022, Huobi received permission to operate in a number of jurisdictions, including Dubai, Gibraltar, the United States and New Zealand. In the summer, the company closed its representation in Thailand after the license was revoked by the authorities.

In June, the media reported Huobi’s plans to cut staff by 30%.

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