Market Analysis Report (10 Oct 2022)

Hong Kong-based investment company About Capital Management’s M&A fund is set to acquire cryptocurrency exchange Huobi Global, one of the largest token trading platforms in the Asia markets.

In a blog post, Huobi Global said that About will “control the majority stake” of Huobi once the deal closes, with the ownership transfer having no impact on trading operations. The terms of the deal were not disclosed.

The announcement comes after months of speculation suggesting that Huobi’s founder, Leon Li, was seeking a buyer for his nearly 60% stake in Huobi, and was asking for $1 billion.

Under About Captial, the exchange is plotting an international expansion and will receive an “injection of sufficient capital in margin and risk provision fund.”