Foreign media: Baidu Capital states that it will no longer participate in Huobi's work in any way

2023-06-02 09:00:58

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ChainCatcher news, Hong Kong asset management company Baidu Capital clearly stated to Protos media in May that the company will no longer participate in Huobi in any way and declined to provide further details.

ChainCatcher previously reported that the cryptocurrency trading platform Huobi Global announced that its controlling shareholder has transferred all of its shares in Huobi Global to a fund under Baidu Capital, making Baidu Capital's merger and acquisition fund the largest shareholder and actual controller of Huobi Global.

According to another ChainCatcher previous report, Bloomberg cited informed sources stating that Sun Yuchen spent about $1 billion to acquire approximately 60% of Huobi's equity through the Hong Kong asset management company About Capital (Baidu Capital). Sequoia China and ZhenFund also sold a combined 28% stake in Huobi Global to Baidu Capital. (source link)

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