I have already mentioned the issues with Huobi. Let's take a look at how the exchange founders are attempting to address them.

Cryptocurrency exchange Huobi underwent a major rebranding to commemorate its 10th anniversary, changing its name to HTX and unveiling a new project roadmap.

According to the announcement, the letter "H" in the name represents Huobi, "T" symbolizes the TRON blockchain, and "X" signifies the exchange (according to some reports, X also denotes 10 years, the duration Huobi has been in operation).

Justin Sun stated that the company aims to apply for licenses in multiple jurisdictions over the next 10 years. This was reported by The Block (https://www.theblock.co/post/250931/justin-sun-hopes-htx-rebrand-will-help-exchange-keep-pace-with-rivals-global-expansion).

At the Token 2049 conference in Singapore, Sun mentioned that HTX will be positioned as an international brand, focused English-speaking user base.

At the moment, I haven't seen anything beyond marketing efforts. The new project roadmap primarily focuses on international expansion and aligning with technology trends and industry developments in the crypto space. It is undeniable that effective marketing can make a significant impact, given the large reputation and history of the exchange. However, at this point, I would rate these actions as a 3, as I would like to see more specifics and ideas about the exchange's ecosystem development from within, as well as the implementation of technologies and features that will be competitive among top-tier CEX platforms.

Huobi Token (HT) is a cryptocurrency and operates on the Ethereum platform

Huobi Token

Bernard Kovac

Is Huobi Exchange a Future Bankrupt?

There is information circulating online about Huobi's insolvency:

Employees of Huobi and Tron have been questioned by the police.

The exchange has only $90 million in liquid assets, while users of the exchange have $631 million in their balances.

The launch of wrapped USDT (stUSDT) by Justin Sun and the introduction of high-yield staking. However, a large portion of stUSDT is held by Sun (98%).

There is almost no USDT on Huobi (except for the wrapped version on the Tron network).

Binance has become aware of the potential issues with Huobi and USDT, and they have started transferring USDT to DAI.

Drop of balances from 700m to 200m for Jul and Aug.

Huobi Token HT