Huobi chief in talks to sell $1 billion stake in crypto exchange

Huobi Group founder Leon Li is engaged in talks with a group of investors as the Chinese entrepreneur is looking to sell his majority stake in the crypto exchange at a valuation between $2 billion to $3 billion, according to a Bloomberg report.

Li is reportedly seeking to sell about 60% of the firm. A potential deal could bring the Huobi founder more than $1 billion, making it one of the biggest in the crypto industry to date.