Huobi considers a name change


Huobi Global's Hong Kong-registered parent company, Huobi Technology Holdings, is proposing to rename the group New Huo Technology Holdings Limited, while it seeks to sell a controlling stake in the company.

Huobi Technology stated that the name change "will give the company a fresh corporate image and identity" and will also help business development.

Shareholders will be asked to vote on the proposed name change at the October 13 meeting.

It is reported that in August Huobi tried to sell 60% of the company's shares, which would have valued the business at 3 billion US dollars. However, the founders of FTX and Tron, presumably potential buyers, refused to participate in the auction.

Huobi had not responded to Forkast's request for comment at the time of publication.

After banning cryptocurrencies, Huobi left China to take advantage of international opportunities. But the firm is facing a negative reaction from regulators in Southeast Asia: the Thai SEC has confiscated the exchange's license, and Malaysian regulators are discussing with Huobi the possibility of being included in the list of investor warnings.

In September, Huobi excluded from the list a series of "cryptocurrencies with confidentiality" that could hide transaction addresses and tracking property rights. These cryptocurrencies have been under the scrutiny of regulators for facilitating payments for criminal activity and money laundering.

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