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Is Binance about to buy Justin Sun's Huobi stake?

Binance, the world’s largest cryptocurrency exchange by volume, recently turned down an offer to acquire Tron blockchain founder Justin Sun’s ownership stake in rival exchange Huobi, according to a person familiar with the matter.

Why is Binance not interested in Huobi?

Binance wasn’t interested because of rumors that Huobi has ties to mainland China, which Binance wants nothing to do with, according to the person, who requested anonymity. In an interview last month with CoinDesk TV, Sun said Huobi wants to attain a license in Hong Kong and launch a new exchange there called Huobi Hong Kong.

Is Sun Yat-sen's involvement with Huobi cloaked in secrecy?

The scope of Sun’s involvement with Huobi has been cloaked in secrecy. A company called About Capital purchased Huobi in October of last year. Sun’s representatives have said he’s not involved with About, though Huobi confirmed in January that he’s a leader of the company.

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Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

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