It’s a rebranding we didn’t see coming. The Huobi platform, which is increasingly closely linked to the TRON (TRX) ecosystem, has been renamed HTX. A name that of course evokes FTX, and is raising questions in the crypto community.
Huobi renames itself to “HTX “
The Huobi platform is now called HTX. The rebranding was announced today and is already in effect. The site has already been given a new logo, which also bears a resemblance to FTX:
HTX’s new logo, furiously reminiscent of a controversial platform
Huobi’s press release justifies this choice by the desire to promote TRON (TRX) :
The H stands for Huobi. The T stands for Tron, with a commitment to be all-in on Tron. And the X refers to the exchange. […] There’s also a new slogan: “Just trade it”. “
Huobi turns to the metaverse and strengthens links with Poloniex and Tron
Release states that there is now “synergy” between HTX, Poloniex, and TRON. TRON’s (and therefore Justin Sun’s) links with Huobi have been increasingly apparent for some time now. What’s more, the atmosphere on the exchange platform seems to have changed. Last August, there were rumours of Huobi’s insolvency… And Justin Sun was said to be planning a bailout, transferring $200 million to the exchange.
In addition to this obvious desire to clarify (in part) the links between these different entities, HTX also wishes to turn to the metaverse, if we are to believe the press release:
FTX’s new mission is to create a free zone in the metaverse, with one vision: to give financial freedom to the 8 billion people on Earth. HTX embarks on growth strategy “
Is HTX hiding any difficulties behind this rebranding? Beyond these rumours of insolvency, the platform has seen some of its executives arrested. In addition, members of the crypto community have accused Justin Sun of implementing a strategy similar to that of FTX, using Huobi customer funds for his own ends. It is therefore conceivable that an “HTX affair” could emerge at some point.
