Binance has reportedly declined an offer by crypto entrepreneur Justin Sun to sell his stake in Huobi, one of the world’s largest cryptocurrency exchanges.
Binance cited concerns over Huobi’s relationship with China, which was once its main market, according to an anonymous source cited by CoinDesk.
Sun denied making any recent proposal to Binance CEO Changpeng Zhao about selling his stake in Huobi. Bloomberg had previously reported that Sun was in talks to sell his stake in Huobi to potential investors, but Sun denied those claims as well. Sun faces SEC charges of fraud and unregistered securities in relation to the sale of TRX and BTT tokens by his companies. Additionally, several tokens that Sun has endorsed or purchased have not performed as expected.
