The sale of a majority stake in cryptocurrency exchange Huobi was completed last week. Management to About Capital, which, according to journalists, is owned by Justin Sun. The Tron founder himself denies any involvement in the agreement.
On October 10, freelance reporter Colin Wu said that Justin Sun was behind the purchase of Huobi. He is the main investor of About Capital and the idea to buy the exchange belongs to him.
According to Wu, the deal was worth about $1 billion.
Sun took over as "global advisor" along with Leah Wald, CEO of Valkyrie Investment.
About Capital said the appointment aligns with Huobi's new strategy to move within the global marketplace.
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