- He confirmed that he acquired a large stake in October 2022.
- The businessman also spoke about the prospects of Huobi
Justin Sun gave Empire channel interview. For the first time, he publicly admitted that he owns a stake in the Huobi crypto exchange. More precisely, he did not deny this fact.
During the conversation, journalist Jason Janowitz said that Sun acquired Huobi’s stake in October last year. To which he simply replied “Yes”. By this, the businessman confirmed his status as a major shareholder.
Previously, the businessman denied this fact. He said that he just works on the stock exchange as a consultant.
Then the conversation turned to the competition and dominance of Binance in the crypto exchange market. Sun said he did not see Zhao’s company as a competitor. And he believes that exchanges can be partners and work independently.
Now Binance accounts for about 50% of the market. Although this percentage has been falling in the last 2 months, Binance remains the undisputed leader.
However, according to Sun, in the long term, the crypto exchange market will diversify.
“I believe that eventually the industry will turn into many exchanges that list various assets. Binance will likely deal with major assets such as Bitcoin and Ethereum. And Huobi, Poloniex and other exchanges will list innovative assets well.”
Here Sun is probably referring to Pepe and other meme tokens that have gained a solid market capitalization in a short time.
Recall that recently Justin Sun wanted to farm SUI in Binance Launchpool, but he was “figured out” and publicly shamed.