• Huobi has already up to date their social media profiles to mirror the change.
  • Social media customers had been fast to level out the similarities to FTX.

In a contentious advertising and marketing effort for its tenth anniversary, crypto change Huobi is altering its identify from “Huobi” to “HTX.” The identify change was introduced by Huobi on September 13. The “H” stands for Huobi, the “T” for Justin Solar’s Tron blockchain mission, and the “X” stands for the change itself.

Alternatively, “HT” would possibly stand for the change’s native Huobi Token (HT), whereas “X” could possibly be learn because the Roman numeral for 10, honoring the corporate’s tenth anniversary. The brand new tagline for the corporate is “HTX, Simply Commerce It.”

Similarities to Defunct FTX

Huobi has already up to date their social media profiles to mirror the change earlier than making the announcement public. Each the official Telegram group and the brand new Twitter deal with for the change have been up to date. Social media customers had been fast to level out the similarities between Huobi’s new moniker and FTX, the collapsed change.

Regardless of this, Huobi isn’t the one startup to ostensibly take inspiration from the FTX disaster with its personal identify. The defunct crypto hedge firm Three Arrows Capital’s founders introduced in the beginning of this 12 months their intention to boost $25M for a brand new crypto change dubbed GTX.

Moreover, just a few in the neighborhood identified that Huobi modified its identify “after stepping into authorized bother.” For the reason that change has denied having any authorized issues, it’s unclear what issues had been urged. It refuted rumors of impending chapter and Chinese language police arrests of firm officers in early August.

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