Leon Li, the founder of crypto exchange Houbi, is looking to sell a majority stake in the company, according to Bloomberg. Li is reportedly valuing his stake, believed to be around 60%, at a figure of $3 billion.
At one point, Houbi has been the most active trade platform for Bitcoin. The company has since been surpassed by the likes of Binance and FTX, but still remains one of the most popular exchanges on global scale. CoinGeko estimates that Houbi users trade over $1 billion on a daily basis.
It is believed that Li has already informed Houbi’s major investors about his decision to sell and is reaching out to potential investors. He could have a deal in place by the end of August, with a predicted price of around $1 billion. This would make it the biggest deal of this kind in
“He hopes that the new shareholders will be more powerful and resourceful and that they will value the Huobi brand and invest more capital and energy to drive the growth of Huobi,” Houbi responded through a spokesperson when Bloomberg was reached for comment.
Several interested parties have been mentioned, including Tron blockchain network founder Justin Sun and The Bahamas-based cryptocurrency exchange FTX. After Bloomberg‘s story came out, Sun denied interest in buying Huobi via his Twitter.