Global crypto exchange FTX will not be acquiring a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF.\u00a0<\/p>\n
In a Monday tweet, SBF explicitly denied\u00a0a Bloomberg report that claimed FTX was planning to purchase crypto exchange Huobi. Cointelegraph reported on Aug. 12 that Huobi co-founder Leon Li was considering selling his majority stake, valued at more than $1 billion, in the company. <\/p>\n
\u201cWe are not planning to acquire Huobi,\u201d said SBF.<\/p>\n
Under SBF\u2019s leadership, both FTX and Alameda Research have stepped in a few times amid the bear market to bail out crypto firms facing liquidity issues. In a June NPR interview, Bankman-Fried said both companies had \u201ca responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion\u201d as it would be \u201chealthy for the ecosystem.\u201d<\/p>\n
He added in a June 19 tweet:<\/p>\n
\u201cWe want to help those we can in the ecosystem, and have no interest in hurting them \u2014 that just hurts us and the whole ecosystem.\u201d<\/p><\/blockquote>\n
In June, Alameda offered Voyager Digital a $200 million USD Coin (USDC) loan and a \u201crevolving line of credit\u201d of 15,000 Bitcoin (BTC), worth roughly $300 million at the time. FTX also extended a $250-million revolving credit facility to BlockFi, a company that reportedly grew by roughly 250,000% in 2022 despite cutting 20% of its staff.<\/p>\n