According to Colin Wu, the ultimate beneficiary of the About Capital Management fund, which has bought a controlling stake Huobi, may be the founder of the Tron Foundation, Justin Sun.
The acquisition price could be $1 billion.
In response to Wu’s inquiry, the Tron founder has stated that he was not involved in the deal. Subsequently, the description of his account has added information that he is associated with Huobi.
About Capital Management was involved in the acquisition scheme due to Huobi founder Leon Li’s concerns that the move could affect his security in light of Chinese authorities’ concerns. In turn, Justin Sun did not want to irritate Binance, which supports him, according to sources.
Recall that in August 2022, Bloomberg reported that Lee was negotiating the sale of a 58% stake in the company’s valuation at $2-$3 billion.
