Bloomberg: Sun Yuchen invests about $1 billion to acquire approximately 60% stake in Huobi

According to ChainCatcher, citing sources from Bloomberg, Justin Sun has invested approximately $1 billion through the Hong Kong asset management company About Capital to acquire about 60% of Huobi's equity. Sequoia China and ZhenFund will also collectively sell their 28% stake in Huobi Global to About Capital. Sources indicate that Justin Sun excluded his name from the transaction to avoid regulatory scrutiny from China.

ChainCatcher previously reported that Huobi's major shareholder completed the share sale, with About Capital's merger fund becoming the actual controller. Justin Sun joined the Global Advisory Board of Huobi Global and has repeatedly stated that he is not the buyer of Huobi. (Bloomberg)