Cryptocurrency exchange Huobi is making waves as it celebrates its 10th anniversary with an unexpected rebrand. On September 13th, the company officially announced its rebranding to its new global name, HTX. The new brand name has caused significant confusion.
The new name is a representation of Huobi and Justin Sun’s popular blockchain project, Tron, along with the letter “X” which signifies “exchange.” However, this change has led many cryptocurrency observers to associate the name with the now-defunct FTX exchange.
What Does HTX Stand For?
The new naming comes from Huobi’s native token, Huobi Token (HT), and the Roman numeral “X,” which stands for 10, as a nod to the company’s 10th anniversary. The new slogan is equally eye-catching: “HTX, Just Trade It.”
Prior to this change, Huobi discreetly updated its social media accounts. Its official account on the X platform was renamed to HTX_Global. These changes occurred before the new brand name was announced, thus leading to various speculations among users prior to the announcement.
Striking Similarity to FTX Raises Eyebrows
FTX was a cryptocurrency exchange that collapsed in 2022, with its founder Sam Bankman-Fried facing a total of 13 charges related to fraud. Huobi’s new brand name, HTX, particularly after the unfortunate events surrounding FTX, has been found to be quite striking and confusing. Social media users are questioning why the brand chose a name so similar to that of FTX.