In recent days, speculation has swirled around the ownership of Huobi Global following reports suggesting that Sun Yuchen (Justin Sun), founder of TRON, was the actual buyer behind the exchange’s latest ownership transition. On October 10, Sun Yuchen’s team officially responded to these claims, clarifying that neither Sun nor the TRON ecosystem were involved as acquirers in the transaction.
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Clearing the Air: No Involvement in Huobi's Acquisition
Contrary to rumors circulating on social media and certain自媒体 platforms, Sun Yuchen and TRON are not the buyers of Huobi Global’s shares. The acquisition was finalized by funds under About Capital (also known as "Bailey Capital"), which now holds majority stake and operational control of Huobi Global. This marks a significant shift in leadership and governance for one of the longest-standing names in the cryptocurrency industry.
While Sun Yuchen is not a financial buyer in this deal, he has accepted an invitation to join the newly formed Huobi Global Advisory Committee, where he will contribute strategic guidance alongside other prominent figures from finance, academia, and blockchain innovation.
The Role of the Huobi Global Advisory Committee
The establishment of the advisory board signals Huobi’s intent to strengthen its institutional credibility and global outreach. Members include:
- Ted Chen (Chen Yihua) – Founder of About Capital and former partner at Jinglin Asset Management
- Du Jun – Co-founder of Huobi Global
- Wang Yang – Vice President of Hong Kong University of Science and Technology
- Justin Sun – Founder of TRON
- Leah Wald – Co-founder of Valkyrie Investments
As a committee member, Sun Yuchen will focus on key areas such as industry development, academic collaboration, compliance frameworks, and risk management. His role is advisory in nature—aimed at enhancing Huobi’s long-term competitiveness, brand recognition, and user trust in a rapidly evolving regulatory landscape.
“I am deeply honored to serve on the Huobi Global Advisory Committee,” Sun stated via Twitter. “Together with fellow experts, I will support Huobi in advancing its mission—driving innovation, strengthening cross-institutional partnerships, and guiding the platform into a new era of growth and global impact.”
About Capital Takes the Helm
With the completion of share transfer and asset settlement, About Capital now stands as the controlling shareholder of Huobi Global. The firm, known for its strategic investments in technology and financial infrastructure, brings institutional rigor and long-term vision to the exchange.
This transition reflects broader trends in the crypto market: a move away from founder-led exchanges toward professionally managed platforms backed by private equity and venture capital. It also underscores growing emphasis on compliance, transparency, and sustainable business models in post-bull market realities.
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Who Is Justin Sun?
H.E. Justin Sun serves as both the founder of TRON and Grenada’s Permanent Representative to the World Trade Organization (WTO). Since launching TRON in September 2017, he has positioned it as one of the world’s leading decentralized blockchain ecosystems.
Today, TRON hosts over 115 million user accounts and supports more than **$50 billion in on-chain digital assets**. It ranks among the top three blockchains globally by Total Value Locked (TVL) in decentralized finance (DeFi), with over $11 billion currently secured in its DeFi protocols.
A major milestone came in December 2021 when TRON completed full decentralization, transitioning into a community-governed DAO (Decentralized Autonomous Organization). This shift empowers token holders to participate directly in protocol upgrades, governance decisions, and ecosystem funding.
Beyond Blockchain: Art, Philanthropy & Space
Sun Yuchen is also recognized for his contributions beyond technology. A passionate advocate for digital art and cultural preservation, he acquired iconic works by Pablo Picasso, Alberto Giacometti, and Andy Warhol in 2021—totaling nearly 1 billion RMB in value. Most of these pieces were later donated to the APENFT Foundation, an organization dedicated to exploring NFT-based art curation and blockchain-powered cultural heritage projects.
In 2019, Sun made headlines by purchasing the Warren Buffett Charity Lunch for $4.568 million—a symbolic gesture highlighting blockchain’s potential to engage with mainstream institutions.
More recently, through his “Ocean of Stars” public welfare initiative launched in 2021, Sun announced plans to send five individuals into space aboard Blue Origin’s New Shepard rocket in 2023—a bold fusion of philanthropy, education, and frontier exploration.
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Frequently Asked Questions (FAQ)
Q: Did Justin Sun buy Huobi Global?
A: No. Despite online rumors, neither Justin Sun nor TRON acquired Huobi Global. The purchase was completed by funds managed by About Capital.
Q: Is Justin Sun involved with Huobi after the sale?
A: Yes. He has been appointed to the newly established Huobi Global Advisory Committee, where he will provide strategic input on industry trends, compliance, and technological innovation.
Q: Who owns Huobi Global now?
A: About Capital (Bailey Capital) is the new majority shareholder and controlling entity following the completion of the asset transfer.
Q: What is TRON’s current market position?
A: TRON ranks among the top blockchain networks globally by user base and DeFi TVL. It hosts over 115 million accounts and secures more than $50 billion in on-chain assets.
Q: Why does advisory involvement matter in crypto projects?
A: Advisors bring expertise in regulation, technology, and global markets—critical for exchanges aiming to scale sustainably while maintaining trust and compliance.
Q: Will Huobi change under new ownership?
A: While day-to-day operations continue as normal, the formation of an independent advisory board suggests a strategic push toward enhanced governance, innovation, and international expansion.
As the digital asset landscape matures, leadership transitions like this highlight the growing intersection between institutional finance and decentralized technology. With trusted advisors like Justin Sun lending expertise—and firms like About Capital providing stable stewardship—Huobi Global appears poised for a renewed chapter built on resilience, innovation, and global relevance.