Sam Bankman-Fried disputes that FTX intends to buy a share in Huobi

Sam Bankman-Fried (SBF) is an influential person in the crypto currency ecosystem. While his reputation grew as a skilled trader of cryptocurrencies, his investment expertise is now predominantly catching people's attention. His primary business, FTX Derivatives Exchange, established itself as a last- resort lender with a concentration on aiding businesses that the crypto winter forced into financial trouble.

About FTX

Leading centralized cryptocurrency exchange FTX Exchange is known for its expertise in interest rate swaps and leveraging products. Sam Bankman-Fried, an MIT alumnus and experienced trader for international exchange-traded funds at Jane Street Capital, established FTX in 2018. Additionally, it offers space for more than 100 cryptocurrency trading pairs.

Crypto investors of all experience levels, from novices to seasoned experts, are lured to FTX s broad range of offerings and user-friendly desktop and mobile trading programs. The FTX platform provides a wide variety of order types, from straightforward market orders to trickier trailing stop orders.

Bloomberg reported, citing allegedly unidentified sources, that FTX is considering purchasing a stock in Huobi in light of its active M&A activity. As previously reported, Huobi's creator and largest stakeholder, Leon Li, disclosed plans to offer at least a 60% ownership in the company to a new bidder.

In terms of trade volume, Huobi is among the biggest cryptocurrency exchanges, ranking with Bit-Z and OKEx. Initially envisioned for the Chinese market, it has since spread to far more than 130 nations. Huobi is more than just an exchange for cryptocurrencies. Through its own derivative market, it recently began offering futures trading. It is intended to entice more “large investors from more reputable financial markets” who want a piece of the cryptocurrency action.

Early rumors tied Bankman's FTX, which has already given ailing cryptocurrency businesses financial lifelines during the past several months. On Twitter, the crypto-billionaire nonetheless declared that his business had no plans to purchase the exchange.

Sam Bankman-Fried is a well-known and respected figure in the cryptocurrency community, so his comments may be sufficient to allay concerns about the near-term prospects of both FTX and Huobi. However, cryptocurrency users might not be shocked if both businesses sign a partnership agreement in the long run.

As a reminder, WikiBit is ready to help you search the qualifications and reputation of projects in a bid to protect you from hidden dangers in this risky industry!

iOS: t.ly/UUCj

Android: t.ly/cfYt