FTX has been lively within the acquisitions area this 12 months, snapping up corporations like Liquid and Bitvo amid the crypto winter.
Sam Bankman-Fried, the CEO of crypto alternate FTX, has mentioned his firm doesn’t plan to amass cryptocurrency alternate Huobi.
The FTX boss, whose agency has in current months dominated information headlines round large acquisition and enlargement efforts amid the crypto winter, famous in a tweet on Monday:
“Just to be express as a result of apparently lots of people are saying this: No, we aren’t planning to amass Huobi.”
Simply to be express as a result of apparently lots of people are saying this:
No, we aren’t planning to amass Huobi.
— SBF (@SBF_FTX) August 29, 2022
Huobi launched in 2013, one of many earliest cryptocurrency exchanges, and one with a rising footprint following institutions in Korea and Hong Kong.
FTX’s acquisitions and plans
Bankman-Fried’s remarks come after stories surfaced of FTX being in talks to amass Huobi.
In accordance with one such current report, Huobi founder Leon Li had mentioned the sale of a majority stake in his firm to FTX, with the potential bid then placing the alternate’s valuation at round $3 billion.
Reviews additionally claimed that Tron (TRX/USD) founder and former CEO Justin Solar had additionally proven curiosity in Huobi. Solar additionally refuted the declare.
FTX’s progress plans regardless of the crypto winter embody acquisition of crypto alternate Liquid and buying and selling platform Bitvo.
The agency, which additionally has an settlement to amass crypto lender BlockFi, has reportedly additionally been in talks to amass South Korea-based crypto alternate Bithumb.