Sunday, April 14, 2024

Huobi’s modern title, HTX, raises community eyebrows

Bitcoin NewsHuobi’s modern title, HTX, raises community eyebrows

Cryptocurrency trade Huobi is celebrating its 10th commemoration with a disputable showcasing move — the firm is rebranding from “Huobi” to “HTX,” resounding bankrupt trade FTX.

Huobi reported the rebranding on Sept. 13. “H” speaks to the primary letter of Huobi, “T” speaks to Justin Sun’s blockchain venture Tron, and “X” speaks to the trade.

Another translation is that “HT” speaks to the exchange’s local Huobi Token (HT), whereas “X” is the Roman numeral for 10, which pays tribute to the company’s 10th commemoration. The firm‘s modern motto is: “HTX, Fair Exchange It.”

Some time recently formally declaring the news, Huobi renamed its social media accounts to reflect the modern title. The exchange’s X (once Twitter) handle is presently HTX_Global, whereas its official Wire gather is “HTXglobalofficial.” Its website domain still reflects the initial Huobi title at the time of composing.

Huobi’s modern title rapidly assembled consideration on social media, with numerous addressing the similitude to FTX, the now-defunct trade whose author, Sam Bankman-Fried, is confronting 13 charges relating to extortion.

“What’s up with Huobi getting to be HTX? I think it’s giving me FTX vibes,” one cryptocurrency eyewitness composed on X.

“Is this supposed to be a joke? FTX to HTX? That’s the primary thing everybody will think,” another X client contended, communicating disarray as to why a brand would have taken such a title after FTX’s collapse in 2022.

Huobi isn’t the primary company to apparently borrow a portion of its title from the vexed FTX, be that as it may. In January 2023, the authors of collapsed cryptocurrency support finance Three Bolts Capital declared a arrange to raise $25 million for a proposed crypto trade called GTX. Per its pitch deck, the title is “because G comes after F” — a play on FTX’s liquidation.

A few cryptocurrency spectators too contended that Huobi was rebranded “after getting into lawful trouble.” It’s hazy what lawful inconveniences were suggested, as the trade has been denying that it’s confronting any issues. In early Admirable, it denied reports suggesting it was near to indebtedness which Chinese police had captured a few of its senior executives.

Already, Huobi Worldwide was moreover requested to shut its operations in Malaysia taking after an authorization activity from the country’s securities controller in May 2023.

Huobi did not promptly react to VpTron ask to comment.

Check out our other content

Check out other tags:

Most Popular Articles