Huobi Rebrands To HTX, Attracts Considerable Criticism

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Cryptocurrency exchange Huobi has created controversy while celebrating its 10th anniversary, all thanks to a marketing move that sees the firm rebrand from Huobi to HTX, echoing bankrupt crypto exchange FTX.

The move did not go down well with large sections of the community, who were largely critical of the exercise.

Huobi’s Controversial Rebranding

Huobi announced the rebranding on the 13th of September, stating that the letter “H” represents the first letter of Huobi, “T” represents Justin Sun’s blockchain project Tron, and X represents the exchange itself. Another interpretation of HTX is that the letters “HT” stands for the Huobi token, the exchange’s native platform, while X is the Roman numeral for 10, paying tribute to the company’s 10th anniversary. Huobi stated in its announcement,

“H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange. Looking at HTX through the combination of HT and X, HT represents the native token of the platform, while X symbolizes the exchange. Hence, HTX is an exchange with its native token of HT. On the other hand, X is the Roman numeral for 10, which pays tribute to HTX’s 10th anniversary. It is a new era for the platform with synergy between HTX, TRON, and Poloniex. There is also a brand new slogan – “HTX, Just Trade It.”

The news was announced at TOKEN2049, which Huobi (HTX) was invited to attend. Others who attended the event included industry leaders such as Lido, Circle, Animoca Brands, Pantera Capital, Polygon, CertiK, and several others.

Before announcing the news to the public, Huobi renamed all its social media accounts to reflect the rebranding. The exchange’s handle on X (formerly Twitter) is now changed to HTX_Global. Meanwhile, the official Telegram group has been rebranded to HTXglobalofficial. However, the website domain still reflects the original name of Huobi.

HTX’s New Mission

According to the announcement, HTX’s mission is to build a metaverse-free port with a vision to achieve financial freedom for the planet’s 8 billion people. The announcement states that HTX is embarking on a growth strategy of global expansion, thriving ecosystem, wealth effect, and security and compliance.

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Author: Amara Khatri

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