Colin Wu a chinese journalist, reported news about Li LIn, a founder of Huobi . He reported through his tweet that Li Lin was willing to sell his share at Huobi company.
Huobi is among the best crypto industries in the world. The company is doing well and is among the most used exchanges in Asia and around the world. Huobi was considered the second most profitable company in the industry after Binance.
But lately the company has been facing some drawbacks, for example being forced to close last year. The Company has been losing some of its key members to its competitors. The company was also involved in some controversies.This downsides did reduce their earnings.
The news of Li Lin selling his stake in Huobi caused quite a stir in the crypto community. Some people think it’s a good time to buy Huobi shares while the price is falling. Some people also think it’s a sign that Li Lin isn’t confident about Huobi’s future.
Lin’s reported move to sell his stake comes as a surprise as he is one of the most influential people in the company. He is also one of the richest people in the crypto space.
The recent report indicates that Lin plans to sell his entire stake, which amounts to more than 50% of the company. By withdrawing his shares from Lin Li, it is obvious that he can cripple the company.
Li Lin a billionaire entrepreneur, is said to be in talks with a number of potential buyers, including a US-based investment firm.
The move comes as Huobi prepares to go public on the Hong Kong Stock Exchange later this year. This also follows a recent funding round that saw the company raise $1 billion at a $5 billion valuation.
This is not the first time that rumors have surfaced about Li Lin selling his stake in Huobi. In 2018, there were reports that he was looking to sell a 20% stake in the company for $1 billion. However, those reports proved to be false.
If Li Lin sold his stake in Huobi, it would be a major upheaval for the company. Li Lin has been with Huobi since its inception and is one of the most recognizable faces in the Chinese cryptocurrency community.
His departure would no doubt have a significant impact on the company, both in terms of its share price and its ability to attract new users.It is not clear at this stage how much Lin is looking to sell and for what price. It is also not clear if he has found any buyers yet.
Whether these latest rumors are true remains to be seen, but it’s definitely something investors will be watching closely.
