announced its offer to acquire a 60% majority stake in Huobi Global Limited crypto exchange.

If accepted, KaJ Labs is prepared to move swiftly on the acquisition. KaJ Labswill have exclusive negotiation rights and be informed of any other party making offers. If the two entities fail to come to an agreement, the LOI will expire within 60 days, no later than 5 p.m. Eastern Daylight Time on Sept. 15, 2022.

Founded in 2017 by founder and Chief Scientist, Joel Kasr, KaJ Labs is a decentralized research organization focusing on artificial intelligence (AI) and blockchain technology. KaJ Labs designs products that support research and development teams who aim to build the next generation of the internet of value (IoV).

KaJ Labs is the core team building the novel AI blockchain Lithosphere and a digital asset institution. The company’s business spans software R&D, institutional-focused trading, custody capabilities, and many others. The company plans to accelerate the implementation of its novel Lithosphere network and a Huobi Global deal could facilitate that goal.