Huobi Rebrands as HTX for Tenth Anniversary, Drawing Comparisons to FTX Amidst Name Change
Crypto News – In commemoration of its tenth anniversary, the cryptocurrency exchange Huobi has undergone a rebranding process, now known as HTX. This transformation has sparked comparisons to the bankrupt firm FTX due to the striking similarity in names.
Huobi has promptly updated its branding across its various social media platforms and has also made adjustments to several product lines to align with the new HTX branding, notably the introduction of HTX Earn.
The rationale behind the name change was explained by the exchange itself: “The ‘H’ signifies Huobi, the ‘T’ represents TRON, reflecting our strong commitment to the TRON ecosystem, and ‘X’ symbolizes the exchange. When looking at HTX through the combination of HT and X, ‘HT’ signifies the native token of the platform, while ‘X’ represents the exchange.” Furthermore, it was pointed out that ‘X’ corresponds to the Roman numeral for ten, serving as a tribute to the exchange’s ten-year anniversary.
This rebranding development brings to mind the initially proposed name for the cryptocurrency claims trading platform OPNX, which was initially touted to be named GTX, emphasizing that “G comes after F.” However, CoinFlex later clarified that the name was merely a placeholder.
Notably, Huobi advisor Justin Sun is scheduled to participate in the Token2049 event in Singapore and deliver a speech on September 14 in the afternoon. Additionally, a Huobi press conference is scheduled for the morning of the same day.
It is worth mentioning that this renaming effort coincides with ongoing developments in the cryptocurrency space, including the bankruptcy of the FTX exchange. While former FTX CEO Sam Bankman-Fried awaits trial, the exchange’s bankruptcy estate is currently evaluating options for a potential relaunch. Notably, prominent bidders such as the cryptocurrency exchange Bullish and Tribe Capital have expressed their interest in this opportunity.
This rebranding initiative by Huobi to become HTX reflects the evolving landscape of the cryptocurrency industry and its continued growth as it marks a significant milestone in its journey.