Chinese Crypto Mogul Li Sells Stake in Exchange Operator Huobi

Huobi Global controlling shareholder Leon Li has sold his entire stake in the cryptocurrency exchange operator and will cease to be involved in its operations, according to the company.

Li sold his holding in Huobi to a buyout firm managed by About Capital Management (HK)Co., the company said in an e-mailed statement. The co-founder will no longer be involved in any aspect of Huobi Global’s business, according to a Huobi spokesperson. Bloomberg reported the intended sale in August. 

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