Tron founder Justin Sun has reportedly taken over the crypto exchange Huobi Global business. Former Huobi CEO Zhu Hua, CFO Zhang Li, and other senior executives have voluntarily resigned, as per sources.
In October, Huobi Global announced Justin Sun as an advisor on the global strategic advisory board among several other notable people from the crypto and blockchain industry.
Justin Sun Took Control Of Huobi Global Business
According to a November 15 tweet by wublockchain12, Tron founder Justin Sun’s team has officially taken control of the business of crypto exchange Huobi.
Moreover, Huobi’s former CEO Zhu Hua and CFO Zhang Li have officially resigned. Chen Dai, the former head of Huobi PR/GR, also bid farewell to Huobi.
Huobi earlier announced that founder Leon Li has sold his entire controlling stake to Hong Kong-based About Capital Management. Justin Sun also joined Huobi Global as a strategic advisor to guide the firm for global expansion and capital injection to improve competitiveness.
Huobi Token (HT) price jumped nearly 80% in a week as Justin joined Huobi as an advisor. Several reports claimed that Justin Sun is the real buyer of Huobi as he is a core investor in About Capital. However, Justin Sun continued to deny any reports of him buying Huobi.
Justin Sun’s FTX Deal
Tron founder Justin Sun was also in discussion with beleaguered crypto exchange FTX. Initially, he worked with the FTX team to start TRX trading, along with other Tron tokens. It caused the TRX price to soar over 200% on the FTX crypto exchange.
Tron founder Justin Sun in an interview agreed that his team is currently working on due diligence over the potential acquisition of FTX. The crypto exchange earlier reached out to Binance for help with liquidity issues. However, Binance turned down the deal citing mismanagement of user funds and alleged investigations by the U.S. authorities. FTX later filed for Chapter 11 Bankruptcy.