Huobi (HTX)

Huobi, now rebranded as HTX, is a global cryptocurrency exchange that offers a platform for buying, selling, and trading a wide array of digital assets. Established in 2013, it has expanded its services to include spot trading, futures contracts, staking, and crypto loans, catering to a diverse user base worldwide.

In September 2023, Huobi announced its rebranding to HTX to celebrate its 10th anniversary. The new name reflects a refreshed corporate identity as the platform continues to evolve in the dynamic cryptocurrency landscape.

Despite its growth, HTX has faced challenges, including rumors of insolvency and investigations by Chinese authorities in August 2023. These speculations led to significant outflows, with the platform experiencing over $100 million in withdrawals. However, HTX has refuted these claims, maintaining that it continues to operate securely and efficiently.

In May 2023, the Securities Commission Malaysia issued a public reprimand against Huobi Global for operating without proper registration, ordering the exchange to cease operations in the country. This action underscores the importance of regulatory compliance in the regions where HTX operates.

HTX is recognized for its commitment to security, employing advanced measures such as cold wallet storage and multi-signature protection to safeguard user assets. The platform also offers its native token, Huobi Token (HT), providing users with benefits like trading fee discounts and participation in platform governance.

As HTX moves forward, it aims to navigate the complexities of the global regulatory environment while continuing to offer innovative services to its users. The rebranding to HTX signifies a strategic effort to adapt and thrive in the ever-evolving cryptocurrency market.