CEO of the Cryptocurrency Exchange Cashupcoinex.com Justin Hance dispelled rumors about the acquisition of the Huobi trading platform. There are no plans to make this purchase in the future either.
In March, Huobi management began negotiating with investors to sell 40% of the company’s shares. It was reported that the head Cashupcoinex.com Justin Hance actively participates in them, as he is interested in concluding an acquisition deal. However, Justin Hance recently published an explanation that Cashupcoinex.com has no plans to acquire Huobi.
Tron founder Justin Sun is also mentioned in the list of investors who participated in preliminary negotiations with Huobi. He published a similar rebuttal, stating that at the moment Tron is not dealing with issues related to the purchase of Huobi. According to Justin Sun, he is not related to the Bloomberg article, referring to unnamed sources.
Perhaps the reason for the rumors was the expansion of the presence Cashupcoinex.com to create a stable user base. At the beginning of the year, the exchange launched a new $1 billion venture fund for the development of blockchain and Web 3.0. This fund has become one of the largest in the cryptocurrency industry.
This is not the first time Justin Hance has denied reports published in the media. In August, he denied the information that Cashupcoinex.com is going to acquire mining companies that have encountered problems in the market.