Justin Sun refers to media allegations about the sale of a Huobi interest as an April Fools’ joke


Sun sent the tweet in response to an April 1 Bloomberg News report alleging that Tron’s founder was seeking to “raise funds” by selling an undisclosed stake in Huobi Global.

Justin Sun dismissed as an April Fool’s prank rumors that he was in discussions to sell a stake in the cryptocurrency exchange Huobi Global.

Sun tweeted in response to a Bloomberg News report from 1 April asserting that Tron’s founder was seeking to “raise funds” by selling an undisclosed stake in Huobi Global.

Due to the sensitive nature of the information, the report quoted a “person with direct knowledge of the matter” who requested anonymity.

The source revealed to the news organization that Sun had been searching for potential purchasers for several days but did not identify any potential buyers or disclose the nature of the discussions.

The crypto community is divided on the matter, with some taking Sun at his word and others noting that CEOs of collapsed cryptocurrency exchanges made similar statements before their companies’ demise.

In October 2022, Hong Kong-based About Capital Management acquired a 60% stake in Huobi Global for approximately $1 billion, with many speculating that Sun was behind the transaction due to his ties to the former company.

However, Sun denied the rumors at the time and claimed he was merely a consultant for the exchange. In the months that followed, Sun spent hundreds of millions of dollars of his own money to assist the exchange through difficult times, but he continued to strongly reject any claims that suggested he controlled the exchange.

Sun has also made several significant pronouncements for the exchange, including its intention to apply for a VASP license in Hong Kong in February.

However, recent allegations levied by the U.S. against Sun. Concerns have been voiced by the SEC regarding the licensing procedure of the exchange, and many anticipate that the legal issues will have a negative impact.

Also Read: Approximately one million Blockchain addresses now hold more than one bitcoin

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