Cryptocurrency exchange Huobi (HT) token surged 24% from $4.38 to $5.46 in 40 minutes, according to Coinecko. This happened after the exchange’s founder, Leon Lee, learned about his plans to sell shares of the platform owned by him.

BNN Bloomberg reports that Lee is negotiating with a number of investors to sell his controlling stake, which includes about 60% of all shares in the crypto exchange. The Chinese crypto millionaire held talks with some financiers, including Tron blockchain founder Justin Sun and FTX crypto exchange chief Sam Bankman-Fried.

A representative from Huobi confirmed that Li is in talks with several international organizations regarding the sale of shares. In the article, Huobi’s founder hopes to receive $2 to $3 billion and said the deal could be completed by the end of August.

Huobi was founded by Li in 2013 and has grown into one of the world’s leading cryptocurrency exchanges. The platform ranks sixth in the world in terms of daily trading volume ($1 billion), with 615 different stocks represented on it.