Huobi Technology Considers Renaming To Develop The Brand
Huobi Technology Holdings, the Hong Kong-listed parent company of cryptocurrency exchange Huobi Global, is contemplating renaming the firm “New Huo Technology Holdings Limited,” and is apparently looking to sell a majority stake in the company.
According to Huobi Technology, a name change will offer the company a new corporate image and identity while also assisting with commercial development.
At a meeting on October 13, shareholders will be asked to vote on the planned name change.
Huobi was apparently looking to sell a 60% share in the company in August, valuing the company at $3 billion. The founders of FTX and Tron, who had been rumored as prospective bidders, denied placing an offer.
Huobi departed China after the crypto prohibition to explore overseas prospects. However, the company is experiencing regulatory pushback in Southeast Asia, with Thailand’s SEC seizing the exchange’s license and Malaysian regulators exploring the prospect of placing Huobi on an investor warning list.
Huobi delisted a number of privacy coins in September that might conceal transaction addresses and ownership tracking. Regulators were looking at these cryptos for enabling payments for illicit activity and money laundering.
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