Sam Bankman-Fried denied the report that FTX plans to buy a stake in Huobi

Global crypto exchange FTX will not take a majority stake in Huobi, according to CEO Sam Bankman-Fried or SBF.

On Monday’s Twitter, SBF clearly It is forbidden A Bloomberg report said FTX was planning to buy crypto exchange Huobi. Cointelegraph in 2016 As reported on August 12, Huobi co-founder Leon Li was considering selling his majority stake in the company, valued at more than $1 billion.

“We are not planning to acquire Huobi,” SBF said.

Under SBF’s leadership, both FTX and Alameda Research stepped in during bear markets to rescue crypto companies facing liquidity problems. In a June NPR interview, Banman-Fried said both companies have a “responsibility to seriously consider going in, even if it hurts us,” because it would be “ecologically sound.”

He Added On Twitter on June 19:

“We want to help the ecosystem as much as we can, and we have no desire to harm them – that would harm us and the entire ecosystem.”

In June, Alameda offered Voyager Digital a $200 million coin (USDC) loan and a 15,000 Bitcoin (BTC) “revolving line of credit,” worth about $300 million at the time. FTX in 2010 The company, which is reported to grow by about 250,000% by 2022, has extended a $250-million revolving credit facility to BlockFi.

Related: SEC’s Hester Peirce Opposes Crypto Bailouts – SBF Didn’t Get the Memo

FTX said it plans to buy crypto exchange Bitvo in July as part of its move into the Canadian market, and Japan-based Liquidity Group made several high gains during the recent market downturn before and after its purchase of its distributions in February. However, in August, regulators targeted FTX US for falsely representing deposit insurance related to crypto holdings.