The Korean proposal is an offer to purchase all of Huobi Global’s stakes in the company.
Huobi Global’s founder, Leon Li, also has a majority stake in Huobi Korea.
Huobi Global, Justin Sun’s cryptocurrency exchange, has been said to be having financial difficulties and is facing a number of obstacles. As a momentous turn of events, Huobi’s branch in South Korea, Huobi Korea, reportedly opted to split out from the parent company.
Furthermore, Huobi Korea reportedly wants to go out on its own. The Korean proposal is an offer to purchase all of Huobi Global’s stakes in the company. The company also wants to switch the name of its cryptocurrency trading platform.
Struggle Continues For Huobi
Moreover, Huobi Global’s founder, Leon Li, also has a majority stake in Huobi Korea. Cho Kook-bong, CEO of Huobi Korea, is said to be interested in purchasing all shares.
Huobi recently published a so-called “proof of reserves,” which was supported by a reserve ratio of 101%, coinciding
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