Is Justin Sun’s huge Huobi stash linked to $3 billion buyout?

Controversial Tron founder Justin Sun has claimed that he owns “tens of millions” of Huobi Tokens (HT), leading to yet more speculation around his role within the Hong Kong-based exchange.

Sun has repeatedly denied that he, with the backing of FTX chief Sam Bankman-Fried, was the purchaser of a $3 billion majority stake in the company.

However, earlier this week, crypto journalist Wu Blockchain alleged that Sun’s colossal HT stash may have been linked to the mysterious buyout.

Sun told Bloomberg Television on Thursday that he’s one of the world’s biggest holders of Huobi’s token with “tens of millions” to his name. But he added that while he’s not ruling out the possibility of making a move for Huobi in the future, he’s not ready yet.

Read more: A career timeline of Justin Sun, crypto’s most annoying over-marketer

Wu, however, doesn’t appear to be convinced, also tweeting: “74 million HT of Huobi’s two official wallets have been transferred to two new addresses on October 13, and the first transactions were from Justin Sun’s poloniex. The HT officially held by Huobi may be part of the acquisition of Huobi Exchange and has been handed over to Sun.”

Sun denies owning Huobi but he still has plans for its future

According to Bloomberg, Sun would focus on taking Huobi Global and may even move the company back into China, depending on the regulatory climate in the country.

“I think the real success of Huobi in the next stage is definitely globalization,” he said. “We also plan to go back to China, once China has a better policy on cryptocurrency and I think Huobi will be one of the most important exchanges out there.”

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