Coindesk: Binance Rejected Justin Sun’s Offer to Buy His Huobi Stake

Reported Coindesk, Binance has reportedly turned down an offer from Justin Sun, founder of Tron blockchain, to acquire his ownership stake in rival exchange Huobi.

A source familiar with the situation said that Binance was not interested in purchasing Huobi due to rumors of its ties to mainland China, which the exchange wants to avoid. Justin Sun's involvement with Huobi has been shrouded in secrecy, as a company called About Capital purchased Huobi last year, Sun was later confirmed as a leader of the company.

Last week, following a Bloomberg report that Sun was trying to sell his Huobi stake, he compared such speculation to an April Fool’s joke.

Sun's offer was reportedly made directly to Binance CEO Changpeng "CZ" Zhao. Sun denied the report in a tweet, saying he had not proposed any offer to CZ regarding the purchase of Huobi.