Crypto exchange Huobi has rebranded to HTX in celebration of its tenth anniversary — a change that gives the offshore trading platform a name that bears an uncanny resemblance to bankrupt firm FTX. 

The exchange has already changed its branding on its social media accounts and has altered several product lines to match the new branding, such as HTX Earn. 

"'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," the exchange said in an announcement. 

It added that X is the Roman numeral for the number ten, which is an homage to the exchange's tenth anniversary. 

FTX, GTX, HTX 

Huobi advisor Justin Sun will be attending the Token2049 event in Singapore and speaking on September 14 in the afternoon. There will also be a Huobi press conference in the morning. 

The name change is similar to the originally suggested name for crypto claims trading platform OPNX, which was touted in its pitch deck to be known as GTX — because "because G comes after F." CoinFlex later said that name was just a placeholder. 

While former FTX CEO Sam Bankman-Fried awaits trial, the exchange's bankruptcy estate is considering executing a transaction to relaunch the exchange. 

Crypto exchange Bullish and Tribe Capital are among the bidders so far.Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried. 

Source : Crypto News / September 14, 2023