E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

What's Hot

What Closing Costs Do Home Buyers Have?

February 25, 2023

What Is Realtek HD Audio Manager

February 2, 2023

A Basic Guide To Cell Tower Leasing

February 2, 2023
Facebook Twitter Instagram
E Amazings
  • Home
  • Automotive
  • Business
  • CBD
  • Crypto
  • Education
  • Entertainment
  • Fashion
  • Finance
  • Health
  • Home Improvement
  • Law \ Legal
  • News
  • Shopping
  • Sports
  • Technology
  • Travel
  • Need Help?
Facebook Twitter Instagram
E Amazings
You are at:Home»Crypto»Huobi’s Founder Li Lin Reportedly Looking to Sell His Stake
Crypto

Huobi’s Founder Li Lin Reportedly Looking to Sell His Stake

By July 1, 2022No Comments2 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter Pinterest WhatsApp Email

[ad_1]

New reports claimed that Li Lin is aiming for an exit from the company he helped found years ago. The executive owns a majority stake at Huobi, with over 50%.

  • The blockchain journalist Colin Wu took it to Twitter earlier today to inform that Lin has decided to liquidate his majority stake in the cryptocurrency exchange, indicating that he “currently holds more than 50% of the shares.”

EXCLUSIVE: Huobi founder Li Lin is looking to sell his stake in Huobi. Li Lin currently holds more than 50% of the shares. The second largest shareholder of Huobi is Sequoia China. Huobi’s revenue plummeted after it wiped out all Chinese users and is laying off staff. https://t.co/67KOlW9aT9

— Wu Blockchain (@WuBlockchain) July 1, 2022

  • Huobi is among the largest digital asset trading platforms and was well-positioned within the top three in terms of volume and user base until recently. Wu even said that Huobi was the second-most profitable exchange last year, with over $1 billion in profits.
  • However, the firm experienced severe drawbacks last year when the Chinese clampdown forced it to close shop, which harmed its revenue massively.
  • The market-wide corrections in the past eight months or so have not helped either. As previously reported, Huobi joined other crypto exchanges, such as Coinbase, CryptoCom, Bybit, etc., and said it will lay off a significant portion of its employees.
  • According to Wu, the Chinese branch of Sequoia is the second-largest shareholder of Huobi after Lin.
  • Shortly following Wu’s report on Twitter, the crypto community started speculating on who could step up and acquire Lin’s stake in Huobi. Many joked that FTX’s CEO – Sam Bankman-Fried – will be the first to opt in, given the recent shopping spree initiated by him and his company.
SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.



[ad_2]

Source link

Related Posts

Report With an Eye on Mutual Settlements with China, Russia To Launch CBDC Early Next Year: Report

By September 28, 2022

China Cracks Down a $5.6 Billion Crypto Money-Laundering Scheme (Report)

By September 28, 2022

Binance Launches Training Program For Law Enforcement Agencies

By September 28, 2022

FTX US President Brett Harrison Steps Down

By September 27, 2022
Add A Comment

Comments are closed.

Our Picks

What Closing Costs Do Home Buyers Have?

By Corbin BowenFebruary 25, 2023

What Is Realtek HD Audio Manager

By Corbin BowenFebruary 2, 2023

A Basic Guide To Cell Tower Leasing

By Corbin BowenFebruary 2, 2023
Recent Posts
  • What Closing Costs Do Home Buyers Have? February 25, 2023
  • What Is Realtek HD Audio Manager February 2, 2023
  • A Basic Guide To Cell Tower Leasing February 2, 2023
  • Air Duct Repair 101: Everything You Need To Know February 2, 2023
  • Advantage LIC? How Budget Insurance Amendment Bill may benefit the PSU insurance giant January 5, 2023
  • The Flight Of The Dremel January 5, 2023
  • LIC offering multiple benefits on premium payment with co-branded credit cards with Axis Bank: Check features, offer January 5, 2023
Archives
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • September 2021
Facebook Twitter Instagram Pinterest TikTok
© 2022 E Amazings - All Rights Reserved.

Type above and press Enter to search. Press Esc to cancel.