Huobi has invited community backlash and mockery after rebranding to HTX, a name that resonates with the bankrupt crypto exchange FTX.
The crypto exchange Huobi, often surrounded by controversy, has decided to rebrand to HTX. Is it a marketing blunder, or does the team have solid reasoning?
Why Did Huobi Rebrand to HTX?
According to Huobi’s official announcement, the following are the reasons for the rebranding:
- In HTX, H stands for Huobi, T represents the TRON blockchain, and X stands for exchange.
- HTX also signifies the combination of the Huobi native token’s ticker, HT, and X for exchange.
- X also represents the Roman number 10. Hence, HTX symbolizes the Huobi token and the 10th anniversary of the company.
Huobi has also changed the username of its X (Twitter) account to reflect the rebranding to HTX. While the domain name of the official website is still unchanged, the front-end interface reflects the change.
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Community Critical of Move
In a normal scenario, the development might sound like smart branding. However, following last year’s collapse of the FTX exchange, most brands would go out of their way to avoid anything that resonated with Sam Bankman-Fried’s failed exchange.
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The community has objected to the rebranding an
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Author: Harsh Notariya
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