{"id":70619,"date":"2022-11-25T17:42:10","date_gmt":"2022-11-25T15:42:10","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=70619"},"modified":"2025-09-08T03:21:19","modified_gmt":"2025-09-08T00:21:19","slug":"justin-sun-does-not-rule-out-a-merger-between-huobi-and-poloniex","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/justin-sun-does-not-rule-out-a-merger-between-huobi-and-poloniex\/","title":{"rendered":"Justin Sun does not rule out a merger between Huobi and Poloniex"},"content":{"rendered":"<p>Cryptocurrency exchanges Huobi and Poloniex could merge in the future. Justin Sun, founder of Tron, said this in a comment for <a href=\\\"https:\/\/www.theblock.co\/post\/189926\/justin-sun-huobi-poloniex-could-merge\\\">The Block<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>On November 25, journalist Colin Wu, citing his own sources, reported plans to merge the two platforms.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-lang=\\\"en\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The Poloniex exchange, which Justin Sun acquired from Circle in 2019, will merge with his recently acquired Huobi exchange, according to sources familiar with the matter. Coingecko shows that Poloniex&#8217;s daily spot trading volume is only 1\/10 of Huobi&#8217;s. Exclusive<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1596014937058742276?ref_src=twsrc%5Etfw\\\">November 25, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>Sun refuted the information and clarified that both companies remain independent. However, in the future he did not rule out such development.<\/p>\n<p>\\n\\n<\/p>\n<p>In 2019, the entrepreneur, as part of a group of investors, acquired Poloniex. Initially, Sun denied his involvement in the deal.<\/p>\n<p>\\n\\n<\/p>\n<p>In October 2022, Huobi Global agreed to <a href=\"https:\/\/forklog.com\/en\/news\/huobi-global-agrees-to-sell-controlling-stake-to-hong-kong-based-about-capital-management\">the sale of a controlling stake<\/a> to the Hong Kong investment company About Capital Management. The financial terms were not disclosed.<\/p>\n<p>\\n\\n<\/p>\n<p>According to Wu, the ultimate <a href=\"https:\/\/forklog.com\/en\/news\/media-outlets-name-justin-sun-as-huobi-buyer-tron-founder-denies-rumours\">beneficiary of the purchase became Sun<\/a>. The amount could have been up to $1 billion.<\/p>\n<p>\\n\\n<\/p>\n<p>The founder of Tron said he did not participate in the deal. Exchange representatives clarified that he became one of the members of the company&#8217;s advisory board.<\/p>\n<p>\\n\\n<\/p>\n<p>According to Wu, the entrepreneur addressed the platform&#8217;s staff. In his speech, he said the strategy would revolve around the exchange token HT and the company would not return to the Chinese market.<\/p>\n<p>\\n\\n<\/p>\n<p>Subsequently, Huobi <a href=\"https:\/\/forklog.com\/en\/news\/huobi-cryptocurrency-exchange-announces-rebranding\">announced a rebrand<\/a> and the \\&#8221;maximum use of HT\\&#8221; to develop the exchange. The press release cited Sun only.<\/p>\n<p>\\n\\n<\/p>\n<p>The latter, who is currently Grenada&#8217;s ambassador to the <span data-descr=\\\"World Trade Organization\\\" class=\\\"old_tooltip\\\">WTO<\/span>, added a link to Huobi in his Twitter profile.<\/p>\n<p>\\n\\n<\/p>\n<figure class=\\\"wp-block-image\\\"><img decoding=\\\"async\\\" src=\\\"https:\/\/lh4.googleusercontent.com\/GeW7gPKyREqmbevrl0zqFVjPGnAbJf29x6EKHIpqI7TNWveypyHI5979DUpR74y_ecY0jtpDWE3e4mvF758Fbf9dZ3uSIyCwKZmHepNJLW7gHkqr2-oo7BmNmsL6HnQfezedh_E0gft1QpUJgBeXtj7-ygcl4bbZzYkfTZw89T-r3FQ1FIFLyvYZMcUUWQ\\\" alt=\\\"Justin Sun does not rule out a merger between Huobi and Poloniex\\\"\/><figcaption>Data: <a href=\\\"https:\/\/twitter.com\/justinsuntron\\\">Twitter<\/a>.<\/figcaption><\/figure>\n<p>\\n\\n<\/p>\n<p>Over the last 24 hours, Huobi&#8217;s spot trading volume stood at about $283.4 million. The platform ranks seventh on CoinGecko&#8217;s list of exchanges. Poloniex&#8217;s corresponding figure was $36.1 million.<\/p>\n<p>\\n\\n<\/p>\n<p>Earlier, denying the purchase of Huobi, Sun acknowledged that <a href=\"https:\/\/forklog.com\/en\/news\/huobi-token-climbs-85-in-a-week-as-justin-sun-reveals-a-large-ht-stake\">is a major holder of HT<\/a> and plans to help boost the asset&#8217;s price.<\/p>\n<p>\\n\\n<\/p>\n<p>Read ForkLog&#8217;s Bitcoin news in our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchanges Huobi and Poloniex may merge in the future. Justin Sun, founder of Tron, said this in a comment for The Block.<\/p>\n","protected":false},"author":1,"featured_media":70620,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[230,1302,253],"class_list":["post-70619","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-huobi","tag-justin-sun","tag-poloniex"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70619","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=70619"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70619\/revisions"}],"predecessor-version":[{"id":70621,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/70619\/revisions\/70621"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/70620"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=70619"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=70619"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=70619"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}