Huobi Global controlling shareholder to sell entire stake to About Capital
As a majority stakeholder, About Capital intends to fuel Huobi’s international brand promotion and business expansion among other initiatives. Crypto exchange Huobi Global announced that About Capital Management (HK) Co. Ltd, an Hong Kong based-asset management firm became the exchange’s controlling shareholder following a successful buyout deal.While the transaction of an undisclosed amount crowns About Capital as Huobi’s new controlling shareholder, the exchange stated that core operation and business management teams would have no impact due to the transition. As a majority stakeholder,....
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Huobi Global, which has been China’s top crypto exchange, has mentioned that its founder is now planning to sell his controlling stake to buyout firm About Capital Management (HK) Co. Huobi has been altering itself ever since its exit from the home market after Beijing banned crypto. At the current moment, the company is headed […]
Li Lin’s controlling stake in Huobi, one of Asia’s largest cryptocurrency exchanges, was recently acquired by About Capital Management for an undisclosed sum. Huobi’s acquisition by the Hong Kong-based asset management firm came shortly after the crypto exchange had exited the Chinese market.
Lin’s Arrest in 2020 a Key Event for the Huobi Founder
The Hong Kong-based asset management company, About Capital Management, recently became the biggest shareholder in the crypto exchange Huobi after it acquired founder Li Lin’s stake in the firm. The....
Huobi co-founder Leon Li reportedly informed about his decision to other backers of the company in a July shareholders meeting. Leon Li, the co-founder of global crypto exchange Huobi, is reportedly in talks to sell the majority of his stake in the company that could be valued at over $1 billion.Li reportedly had discussions with multiple financiers seeking to offload a 60% stake in the crypto company, which could be valued at over $1 billion and some believe could fetch as high as $3 billion, reported Bloomberg. A Huobi spokesperson confirmed to Bloomberg that the co-founder is engaging....
Lin Li, the company’s founder, has agreed to lend up to $14 million to New Huo Technology to bail out affected clients. According to a new filing with the Stock Exchange of Hong Kong on Nov. 14, investment holdings company New Huo Technology, formerly known as Huobi Global, has $18.1 million worth of deposits stuck on troubled cryptocurrency exchange FTX. Of this amount, $13.2 million consists of clients’ deposits and $4.9 million comprises assets belonging to Hbit, another subsidiary. New Huo Technology is majority-owned by Chinese businessman Lin Li, who also created Huobi Global, the....
The company may relocate up to 200 employees from Seychelles to one of the Caribbean jurisdictions. Chinese crypto exchange Huobi, which recently has had to disavow the rumors about massive layoffs inside the company, unveiled the plans to move its headquarters to one of the jurisdictions in the Caribbean, with the Dominican Republic being the first candidate. In the report from Nov. 1, citing one of the board members, the FT revealed the company’s intention “to go all in in the Caribbean.” The reason is the region’s “super-friendly” crypto stance, common law systems and English language....