Rumored Chinese Connections Deter Binance
Binance's disinterest in the deal is attributed to rumors surrounding Huobi's connections to mainland China. Binance is steering clear of any association with China, as stated by the anonymous source. In a previous interview with CoinDesk TV, Sun mentioned that Huobi is seeking a license to operate in Hong Kong and establish a new exchange called Huobi Hong Kong.
Uncertainty Surrounding Sun's Involvement in Huobi
The extent of Justin Sun's involvement in Huobi remains unclear. About Capital acquired Huobi in October last year. While Sun's representatives deny his association with About, Huobi confirmed in January that he holds a leadership position in the company. Following a Bloomberg report suggesting Sun was attempting to sell his Huobi stake, he compared the speculation to an April Fool's joke.
Sun's Alleged Majority Ownership in Huobi
According to the source, Binance believes Sun owns a majority stake in Huobi. The offer to buy the stake was made directly to Binance CEO Changpeng "CZ" Zhao within the last week. However, Sun denied making any such offer or discussing Huobi with Zhao in a recent tweet. A Binance spokesperson declined to comment on the matter.
