Huobi Token climbs 85% in a week as Justin Sun reveals a large HT stake

The founder of the Tron Foundation, Justin Sun, told Bloomberg in an interview Bloomberg said that he is a major holder of Huobi’s HT tokens and plans to increase their value.

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He did not specify the exact quantity of HT he owns, describing it only as tens of millions.

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\”I would consider myself to be one of the largest holders of Huobi tokens in the world\”, Sun said.

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The founder of the Tron Foundation stressed that he did not acquire a stake in the cryptocurrency exchange.

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Earlier Sun denied rumors that he is the ultimate beneficial owner of the About Capital Management fund, which bought a controlling stake in Huobi. According to the platform’s clarification, he joined the advisory board alongside four representatives from traditional and blockchain companies.

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As an adviser to the exchange, Sun would press for Huobi’s return to China if local authorities’ stance toward industry players softens.

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The founder of the Tron Foundation also said he was studying the possibility of purchasing assets from the Celsius Network, which is undergoing bankruptcy proceedings.

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Sun also said that the authorities of the Commonwealth of Dominica have recognised HT as legal tender.

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This tweet is the Chinese translation for https://t.co/KwITHksrgZ

— H.E. Justin Sun🌞🇬🇩🇩🇲🔥 (@justinsuntron) October 14, 2022

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According to Coingecko, in the last 24 hours Huobi Token rose by 8.6%, over the week by 85.1%.

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In August, Bloomberg reported that Huobi founder Leon Li was in talks to sell a 58% stake in the company, valuing it at $2-3 billion.  

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Among the potential buyers were Sun and FTX chief Sam Bankman-Fried. The latter laterdenied his interest.

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