- Justin Sun is among the top five youngest crypto entrepreneurs Globally.
- Justin Doubtful on the successful operation of crypto and digital assets in China.
Justin Sun, a diplomat and the creator of the TRON network, has not ruled out the circumstance of one day acquiring Hong Kong-based crypto exchange Huobi Global and possibly bringing the exchange back to mainland China.
Justin is among the five advisors of Huboi Global; while talking to a crypto news outlet, he mentioned that the hypothetical situation would depend on the Chinese government changing its stance on cryptocurrencies and would require “the exchange’s thorough due diligence.”
On 11 October at “First Mover,” Justin made this statement after an announcement of Hong-Kong headquartered Capital said that it is planning to buy the globally popular crypto exchange Huobi global. Sun noted, “In the future we might have a chance to purchase Huobi, but not this time.”
On 8 October 2022, TheCoinrepublic reported that Huobi Global revealed in a blog post that the agreement to sell its ‘controlling stake’ to About Capital came through. About Capital is a Hong Kong-based asset management company. Huobi founder Leon Li was the controlling stakeholder in Huobi.
According to the post, the transaction will only change the ownership of the controlling stake; and the ‘core operations and business management teams’ remain unchanged.
At the beginning of H2 of 2022, the founder of Huobi was looking for a majority buyer of Huobi Global stocks. Later, Sam-Bankman expressed his interest in purchasing Stocks of Huobi, but later the deal was not confirmed.
It does not matter who owns Huobi; Chinese officials can ban the use of crypto in the country at any time. Like earlier in September 2021 government banned the use of cryptocurrencies in the country, including the Huobi exchange. It is not the first time something like this has happened in the country.
Justin said, “That’s why China definitely be one of the stronger players in the blockchain industry,” added, “even though we might have some setbacks or regulatory hurdles in the short term. In the long term, I’m highly optimistic.”
Sun noted that Huobi wants to expand its business in China if the country’s authority allows crypto trading again in china. The firm is already popular for its services in Asia.
Justin said, “In the next three months, we will probably list all the cryptocurrencies against USDD on Huobi.”
Earlier in a report of TheCoinRepublic, it was noted that Justin Sun stated that using one of his addresses for the Ethereum decentralized finance (DeFi) protocol Aave had been prohibited.
Sun stated through Twitter that he received 0.1 ETH from Tornado Cash, which caused the protocol to add and block his address. Like Justin Sun, numerous well-known figures inside and outside the crypto community have received funding through Tornado Cash.
Following the U.S. Treasury Department’s sanctions, high-profile people have received money this past week on the Ethereum decentralized exchange.
Source: https://www.thecoinrepublic.com/2022/10/12/justin-sun-optimistic-view-on-crypto-back-in-china-while-addressing-huobis-acquisition/