Huobi Global, one of the largest crypto exchanges in China, wants to rebrand for a credible image.
Famous cryptocurrency provider Huobi Technology Holdings argued that the company needs to rebrand to gain credibility and innovation. Believing that it will improve its corporate identity image, the Chinese organization stated that it believes it is time to take a different path after the recent declines of cryptocurrencies and intense legal processes.
Huobi to Perform Name Change and Share Sale
The company stated in its statements that it wants to sell 60 percent of the shares it holds. It has previously marketed these stocks, which are worth approximately 3 billion dollars, to TRON and FTX companies. However, neither company wanted to bid on the shares Huobi wanted to dispose of. China has ceased to be an attractive investment country due to the crypto bans, legal processes and the fact that investors are bored with the bear market. Knowing this, large companies hesitated to invest.
The China-based company, which could not achieve the expected sales, will request a name change to edit the brand’s image. Huobi Technology Holdings wants its new name to be New Huo Technology Holdings Limited.
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