Justin Sun, the founder of TRON, has come clean about the Binance Huobi transaction, stating that he did not make any such offer to the CZ-led trading platform.
We have always regarded Binance as one of our most important partners and will continue to work closely with them on all levels. However, I must point out that in the past week or so, I have not proposed any offer to in the past week or so.
Sun was responding to the rumors about Binance rejecting Sun’s alleged proposal to acquire his ownership stake in Huobi.
Recently, a person familiar with the matter claimed that Binance was not interested due to rumors that Huobi has connections to mainland China, which the top exchange does not want to be associated with.
A month back, Sun-backed Huobi exchange, announced an expansion of its operations in Hong Kong and planned to apply for a virtual asset service provider [VASP] license in the Chinese territory.
In Jan, Sun lauded China’s implementation of taxes on cryptocurrency transactions calling the move a positive step for the global crypto market.
“The tax policy is expected to boost the adoption of cryptocurrencies in the country, as it provides a clear regulatory framework for individuals and businesses,” he stated.
Additionally, he spoke about how TRON and Huobi are leading the expansion and advancement of blockchain technology in China.
TRON’s Justin Sun Alleged Closeness To China Might Have Fueled The Rumours
This comes amidst US regulators who have intensified their enforcement drive against several leading crypto players, including TRON’s Sun who was recently slapped with a lawsuit for alleged market manipulation.
The crypto entrepreneur has since attempted to steer Huobi toward China-controlled Hong Kong insisting that the expansion strategy won’t be impacted by the U.S. civil fraud allegations.
Despite the fact that Huobi was not mentioned in the SEC lawsuit, experts felt that the U.S. regulator’s move would make it more challenging for Hong Kong’s Securities Futures Commission [SFC] to approve a VASP application by Huobi.
While Sun’s latest statement on Binance and Huibo’s alleged deal might have put an end to the speculation, it will be interesting to see his next move in light of the SEC lawsuit.
That said, the crypto billionaire announced an interest to integrate ZK-EVM into TRON and BitTorrent ecosystems. However, it is uncertain when it will be implemented.