Sam Bankman-Fried denies reporting that FTX was considering buying a stake in Huobi

"We have no plans to acquire Huobi," said Sam Bankman-Fried, who manages Alameda Research assets and leads the 'FTX crypto exchange.< /p> New

Global crypto exchange FTX will not acquire a majority stake in Huobi, according to CEO Sam Bankman-Fried, or SBF.

In a tweet on Monday, SBF explicitly denied a Bloomberg report claiming that FTX was planning to buy crypto exchange Huobi. Cointelegraph reported on August 12 that Huobi co-founder Leon Li is considering selling his majority stake, valued at over $1 billion, in the company.

“We do not plan to acquire Huobi,” SBF said.

Just to be explicit because apparently a lot of people say this:

No, we are not planning to acquire Huobi.

Under SBF, FTX and Alameda Research have repeatedly stepped in amid the bear market to bail out crypto firms facing liquidity issues. In an interview with NPR in June, Bankman-Fried said the two companies had "a responsibility to seriously consider intervening, even if it costs us dearly, to stem the contagion" because it would be "healthy for the ecosystem".

He added in a June 19 tweet:

"We want to help those we can in the ecosystem, and we have no interest in hurting them; it only hurts us and the whole ecosystem."

In June, Alameda o...