{"id":22316,"date":"2023-09-13T13:53:41","date_gmt":"2023-09-13T13:53:41","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/huobis-new-name-htx-raises-community-eyebrows\/"},"modified":"2023-09-13T13:53:44","modified_gmt":"2023-09-13T13:53:44","slug":"huobis-new-name-htx-raises-community-eyebrows","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/huobis-new-name-htx-raises-community-eyebrows\/","title":{"rendered":"Huobi\u2019s new name HTX raises community eyebrows"},"content":{"rendered":"<div data-v-398ae7b2=\"\">\n<p>Cryptocurrency exchange Huobi is celebrating its 10th anniversary with a controversial marketing move \u2014 the firm is rebranding from \u201cHuobi\u201d to \u201cHTX,\u201d echoing the name of the bankrupt exchange FTX.<\/p>\n<p>Huobi officially announced\u00a0its rebranding on Sept. 13, renaming the company to the new global brand, HTX. The new naming stands for the first letters of Huobi, Justin Sun\u2019s blockchain project Tron and \u201cX,\u201d which symbolizes the exchange. <\/p>\n<p>Another interpretation of the HTX name may also include \u201cHT,\u201d which stands for Huobi\u2019s native token Huobi (HT). X may be interpreted as the Roman numeral for 10, which pays tributes to the company\u2019s 10th anniversary. The new slogan of the firm is: \u201cHTX, Just Trade It.\u201d<\/p>\n<p>Before officially announcing the news, Huobi renamed its social media accounts to reflect the new name. Huobi\u2019s X account (formerly Twitter) is now named HTX_Global, while its official Telegram group is named HTX Global Official. Huobi\u2019s domain still reflects the original Huobi name at the time of writing.<\/p>\n<p>The new name of Huobi has quickly triggered some attention on social media. Many have questioned whether the new name has anything to do with FTX, the now-defunct exchange whose founder Sam Bankman-Fried is now facing a total of 13 charges relating to fraud.<\/p>\n<p>\u201cWhat&#8217;s up with Huobi becoming HTX? I think it&#8217;s giving me FTX vibes,\u201d one cryptocurrency observer wrote on X.<\/p>\n<p>\u201cIs this supposed to be a joke? FTX to HTX? That&#8217;s the first thing everyone will think,\u201d another X user argued, expressing confusion why a brand would have taken such a name after FTX\u2019s collapse in 2022.<\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Community feedback to Huobi&#8217;s new name HTX. Source: X\u00a0<\/em><\/figcaption><\/figure>\n<p>Huobi is not the first company to borrow a part of its name from the troubled FTX though. In January 2023, the founders of the collapsed cryptocurrency hedge fund, Three Arrows Capital, or 3AC, announced a plan to raise $25 million for a proposed crypto exchange called GTX. Per their pitch deck, \u201cbecause G comes after F,\u201d pun intended with the bankrupt crypto exchange FTX.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Elon Musk to rebrand Twitter to X, but Crypto Twitter has other ideas<\/em><\/strong><\/p>\n<p>Some cryptocurrency observers also argued that Huobi was renamed to HTX \u201cafter getting into legal trouble.\u201d It appears to be unclear what legal troubles were implied as the exchange has been denying any issues recently. Huobi specifically denied reports suggesting that the firm was close to insolvency and also had some of its senior executives arrested by Chinese police in early August.<\/p>\n<p>Previously, Huobi Global was also ordered to close its operations in Malaysia following an enforcement action from the country\u2019s securities regulator in May 2023.<\/p>\n<p>Huobi did not immediately respond to Cointelegraph\u2019s request to comment.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Big Questions: What\u2019s with all the crypto deaths? <\/em><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Cryptocurrency exchange Huobi is celebrating its 10th anniversary with a controversial marketing move \u2014 the firm is rebranding from \u201cHuobi\u201d to \u201cHTX,\u201d echoing the name of the bankrupt exchange FTX. Huobi officially announced\u00a0its rebranding on Sept. 13, renaming the company to the new global brand, HTX. The new naming stands for the first letters of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22317,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-22316","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Huobi\u2019s new name HTX raises community eyebrows | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/huobis-new-name-htx-raises-community-eyebrows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Huobi\u2019s new name HTX raises community eyebrows | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"Cryptocurrency exchange Huobi is celebrating its 10th anniversary with a controversial marketing move \u2014 the firm is rebranding from \u201cHuobi\u201d to \u201cHTX,\u201d echoing the name of the bankrupt exchange FTX. 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