Colin Wu, a Chinese journalist, reported on Li Lin, the founder of Huobi. He informed through his Tweet that Li Lin Huobi was ready to sell his stake in the company.
Huobi is one of the top crypto industries in the world. The company is doing well and is one of the most used exchanges in Asia and all over the world. Huobi is known as the second most profitable company in the industry after Binance.
But recently the company has been facing some drawbacks, for example being forced to close last year. The company is losing some of its key members to its competitors. The company was also involved in some controversies. This decline eroded his earnings.
The news of Li Lin selling his stake in Huobi caused a lot of stir in the crypto community. Some believe that this is the right time to buy Huobi shares during a downtrend in prices. Some also believe that this is a sign that Li Lin is not sure about Huobi’s future.
Lin’s alleged move to sell his stake comes as a surprise as he is one of the most influential people in the company. He is one of the richest people in the crypto space.
Recent reports state that Lin is planning to sell his entire stake which amounts to more than 50 percent of the company. With Lin Li withdrawing his shares it is clear that he could cripple the company.
Li Lin, a billionaire entrepreneur, is said to be in talks with several 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. It also follows a recent round of funding, in which the company raised $1 billion at a valuation of $5 billion.
This is not the first time that rumors of Li Lin selling his stake in Huobi have surfaced. In 2018, there were reports that it was looking to sell a 20% stake in the company for $1 billion. However, those reports turned out to be false.
If Li Lin sells his stake in Huobi, it will be a major setback 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 will have a significant impact on the company in terms of both its share price and its ability to attract new users. At this stage it is not clear how much Lynn wants to sell and at what price. It is also not clear whether it has found a buyer or not.
It remains to be seen whether these latest rumors are true, but it is certainly something that investors will be keeping a close eye on.