Leon Li
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| Leon Li Founder of Huobi; Former CEO and Controlling Shareholder of Huobi Global |
About Leon Li
Leon Li is a Chinese technology entrepreneur best known as the founder of Huobi, the cryptocurrency exchange he established in Beijing in 2013 during the early expansion of the global Bitcoin market. Before entering the digital asset industry, Li studied at Tsinghua University and worked as a computer engineer at Oracle. He went on to build Huobi into one of Asia's most prominent cryptocurrency exchanges before the company expanded internationally following China's tightening restrictions on crypto trading.
Li remained closely associated with Huobi for nearly a decade, overseeing its development from a China-focused Bitcoin exchange into an international digital asset business. In October 2022, he sold his entire controlling stake in Huobi Global to a buyout vehicle managed by About Capital Management (HK) Co. Following the transaction, Li said he was no longer a shareholder and had no direct or indirect authority over Huobi Global.
Huobi later rebranded as HTX in September 2023 under new ownership. Li therefore should not be described as the current CEO or owner of HTX. His post-Huobi career has instead included digital-asset investment and business activities through companies linked to him, including Sinohope and Avenir Group.
Background and Education
Leon Li developed his professional background in engineering and technology before moving into cryptocurrency. He studied at Tsinghua University and later worked at Oracle, where he gained experience as a computer engineer.
In an early interview, Li described himself as an internet entrepreneur rather than someone with a traditional financial background. His experience in software and technology would later become an important foundation for building a cryptocurrency exchange at a time when digital-asset infrastructure was still relatively immature.
Li entered the Bitcoin industry during its formative years, when cryptocurrency exchanges were still developing basic infrastructure for trading, custody and market liquidity.
Early Career at Oracle
Before founding Huobi, Li worked as a computer engineer at Oracle. His experience in enterprise software provided a technical foundation that he later applied to the cryptocurrency sector.
Rather than coming from a conventional banking or investment background, Li entered cryptocurrency through technology and internet entrepreneurship. That path was relatively common among early crypto founders, many of whom approached digital assets as an engineering and internet-platform problem.
Founding Huobi in 2013
Li founded Huobi in 2013 in Beijing, initially focusing on Bitcoin trading. The company entered a rapidly developing Chinese cryptocurrency market and quickly became one of the country's most important digital-asset trading platforms.
Huobi's early growth coincided with a period when Bitcoin trading activity was expanding rapidly across China and other Asian markets. The exchange later attracted institutional investment, including a $10 million funding round from Sequoia Capital in 2014, helping strengthen its position in the increasingly competitive exchange industry.
Under Li's leadership, Huobi expanded beyond its initial Bitcoin-focused business and developed into a broader digital-asset financial services group.
Huobi's Expansion and Rise
During the middle of the 2010s, Huobi became one of the largest cryptocurrency exchanges in the Asian market. The company's growth was driven by the rapid increase in Bitcoin trading and the expanding number of users seeking centralized platforms for buying and selling digital assets.
Huobi's position was tested by China's changing regulatory environment. In 2017, Chinese authorities introduced restrictions on cryptocurrency exchanges and initial coin offerings, forcing major platforms to reconsider their domestic operating models.
Huobi responded by moving significant parts of its operations outside mainland China and developing an international strategy. The business subsequently became known as Huobi Global as it expanded its presence beyond its original Chinese market.
Huobi's Exit From Mainland China
China's regulatory crackdown intensified in 2021 when authorities declared cryptocurrency transactions illegal and further restricted activity related to digital assets.
Huobi ultimately exited the mainland Chinese market. The company said its mainland China business had been fully closed by the end of December 2021, including the closure of mainland user accounts.
The withdrawal marked one of the most significant transitions in Huobi's history. A company originally built around China's rapidly growing Bitcoin market was forced to operate as an international cryptocurrency business.
Li later described the change as part of Huobi's broader globalization strategy and said the company needed a new ownership structure with an international focus.
Sale of Huobi Global
In October 2022, Huobi Global announced that its controlling shareholder had completed the sale of its entire shareholding to a buyout vehicle managed by About Capital Management (HK) Co. The financial terms of the transaction were not publicly disclosed.
Li confirmed that he was no longer a shareholder of Huobi Global and would no longer have direct or indirect authority over the company. The transaction effectively ended his operational involvement with the exchange he had founded nine years earlier.
The sale was significant because it separated the founder from the exchange at a time when Huobi was undergoing both regulatory and market pressure. The company had already left mainland China and was attempting to strengthen its international business.
Huobi Becomes HTX
After the ownership transition, Huobi continued operating internationally before adopting the HTX brand in September 2023.
HTX described the rebranding as part of its 10th-anniversary transformation, with the new identity representing the company's evolution from Huobi.
The rebranding created an important distinction between Li's historical role and the exchange's subsequent development. Although Li remains identified with the founding of Huobi, he no longer controls the exchange and should not be described as HTX's current CEO based solely on his historical position.
Regulatory Issues and Legal Disputes
Leon Li's career has also been connected to several regulatory and legal disputes involving businesses associated with Huobi.
In May 2023, Malaysia's Securities Commission publicly reprimanded Huobi Global and Leon Li over the operation of a digital asset exchange in Malaysia without registration. The regulator ordered Huobi to stop operating in the country and instructed the company to disable its website and applications for Malaysian users.
The action was taken after Li had already sold his controlling stake in Huobi. The Malaysian regulator nevertheless referred to him as CEO in its enforcement notice, reflecting the company's historical corporate information at the time. Other reporting subsequently noted that Li had already stepped away from Huobi's operations.
A separate dispute emerged over the Chinese-language Huobi trademark. A company associated with Li, X-Spot Global, held rights to the trademark in Hong Kong. In December 2023, the Hong Kong High Court granted an interim injunction restricting Huobi Global from using the Chinese-language Huobi name in Hong Kong.
The dispute illustrates that Li's connection to the Huobi brand continued in a legal capacity even after he had sold his ownership interest in the exchange.
FTX Exposure and Sinohope
Li's post-Huobi business activities were also affected by the collapse of FTX in November 2022.
Sinohope, a Hong Kong-based digital asset company linked to Li, disclosed that approximately $18.1 million in assets were trapped on FTX. Li subsequently agreed to provide an unsecured facility of up to $14 million to help address potential customer liabilities connected with the frozen funds.
In 2024, Sinohope's subsidiary Hbit sold approximately $19.5 million of FTX creditor claims, representing a recovery of roughly 108% of the $18.1 million in deposits that had been stuck on the failed exchange.
The episode highlighted the financial risks that remained across the digital-asset industry even after Li had departed from Huobi.
Post-Huobi Career
After leaving Huobi, Li continued participating in the digital-asset sector through investment and business activities rather than returning to an executive role at HTX.
His activities have included companies associated with Sinohope and Avenir Group. Avenir Group describes itself as an investment group connecting traditional finance and digital assets, and recent company communications identify Leon Li as its CEO.
More recent reporting has also linked Li and Avenir Group to investment and trading activities in the digital-asset market. In April 2026, a Hong Kong-listed digital asset services company agreed to acquire Avenir Group's investment and trading team, including its research, trading and risk-control personnel.
These activities represent a shift from Li's original role as an exchange operator toward investment, trading and broader digital-asset business development.
Leon Li's Role in Crypto Today
Leon Li's most enduring contribution to the cryptocurrency industry remains the creation of Huobi in 2013.
The exchange became an important part of the first generation of large centralized cryptocurrency platforms, particularly in Asia. Its development also reflected the broader evolution of the crypto industry: from China's early Bitcoin trading boom, through regulatory restrictions and international expansion, to the emergence of a more globally distributed digital-asset market.
Today, Li's name remains closely associated with Huobi's founding, but his position should be distinguished from the current ownership and management of HTX. He sold his entire controlling stake in 2022 and confirmed that he no longer had authority over Huobi Global.
His more recent activities indicate that he remains involved in digital assets through investment and financial businesses, making him an example of an early crypto founder who moved from operating an exchange toward broader investment and digital-asset ventures.
Projects and Companies Associated With Leon Li
Huobi
Sinohope / New Huo Technology
Avenir Group
X-Spot Global
Career Timeline
Education
Studied at Tsinghua University, developing an engineering and technology background before entering the internet and digital-asset industries.
Before 2013
Worked as a computer engineer at Oracle and developed experience in enterprise technology and software systems.
2013
Founded Huobi in Beijing and launched the cryptocurrency exchange during the early expansion of Bitcoin trading in China.
2013–2017
Led Huobi's growth into one of the most prominent cryptocurrency exchanges in China and Asia.
2017
China introduced increasingly strict restrictions on cryptocurrency exchanges, prompting Huobi to restructure its operations and expand outside mainland China.
2017–2021
Oversaw Huobi's transformation into an international digital-asset business as the company expanded its global operations.
2021
Huobi exited mainland China as Beijing intensified its restrictions on cryptocurrency trading. The company subsequently accelerated its international strategy.
October 2022
Sold his entire controlling stake in Huobi Global to a buyout vehicle managed by About Capital Management. Li confirmed that he was no longer a shareholder and would no longer be involved in Huobi Global's operations.
2022–2024
Continued digital-asset investment and business activities through companies including Sinohope. His businesses were affected by the FTX collapse, while Li provided financial support related to customer liabilities.
2023
A company associated with Li obtained a Hong Kong court injunction concerning Huobi's Chinese-language trademark. Huobi Global subsequently adopted the HTX brand.
2024
Sinohope recovered approximately 108% of its previously trapped FTX deposits through the sale of creditor claims.
2026
Li remains active in digital-asset investment and business activities, with Avenir Group and related investment and trading operations forming part of his post-Huobi career.
Founder Snapshot
| Category | Details |
|---|---|
| Full Name | Leon Li Lin |
| Known For | Founder of Huobi |
| Industry | Cryptocurrency, blockchain and digital assets |
| Founded | Huobi, 2013 |
| Education | Tsinghua University |
| Former Role | CEO and controlling shareholder of Huobi Global |
| Huobi Exit | October 2022 |
| Current Focus | Digital-asset investment and business activities |
| Associated Businesses | Sinohope, Avenir Group, X-Spot Global |
| Huobi's Current Brand | HTX |
Why Leon Li Matters in Crypto
Leon Li is an important figure in the history of centralized cryptocurrency exchanges. His decision to establish Huobi in 2013 came when Bitcoin trading infrastructure was still developing and before crypto exchanges became a major global financial technology sector.
Huobi's subsequent expansion, its response to China's regulatory crackdown and its eventual transformation into HTX reflect several major stages in the development of the cryptocurrency industry.
While Li is no longer an owner or executive of Huobi Global, the company he founded remains part of the history of the first generation of major crypto exchanges. His continuing involvement in digital-asset investment also shows how some early exchange founders have shifted from operating trading platforms toward investment, financial services and broader blockchain-related businesses.
X Account @LeonHuobi