TRON Founder Reveals What’s Next For Huobi Global

Justin Sun, the founder of TRON and a member of the newly formed Huobi Global’s advisory board, discussed the cryptocurrency exchange’s future objectives.

Ted Chen, CEO of the majority stake firm About Capital Management, was the first to address the newly formed board. He hailed the exchange’s accomplishments and referred to it as a key milestone.

It needs to be recalled that Huobi Global stated on October 7 that its owners had finished the transactions to sell all of its shares to the Hong-based investment entity About Capital Management.

Following the acquisition of the majority stake, Huobi established a global advisory board of five people, including its co-founder Du Jun, Wang Yang, vice president of the Hong Kong University of Science and Technology, Leah Wald, CEO of Valkyrie Investment, Ted Chen, founder of About Capital, and Justin Sun of Tron.

The board is in charge of directing the exchange’s international growth.

TRON Founder Says No New Token Launch

The first members of the newly established global advisory board, who will be crucial in assisting Huobi Global’s strategic business decisions, were then introduced by Chen.

In the all-staff address, H.E. Sun concurred with Mr. Chen and stated:

Huobi Global will be launching a number of branding initiatives and company expansions following the acquisition. Our primary focus will be on helping the Huobi Token [HT] to solidify its position in the virtual assets market rather than issuing additional tokens.

Sun was in the limelight following reports of being the main buyer of the trading platform, a claim which he denied, as covered by TronWeekly.

TRON Founder Reveals What’s Next For Huobi Global 3

According to a Bloomberg article from August, Sun and Bankman-Fried were reportedly interested in purchasing Huobi Global’s majority ownership, which was valued at US$3 billion. Later, though, both Sun and Bankman-Fried disputed it.

In a statement posted on the Chinese news website Cailianshe on Monday, Sun claimed that neither he nor Tron was the buyer of the stake sale from Huobi. The state-owned Shanghai United Media Group supports the media company Cailianshe, which is situated in Shanghai.

Bankman-Fried responded by retweeting Wu Blockchain’s report with the comment “still not involved.”

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