Justin Sun Speaks at Huobi’s Branding and Strategy Launch Event

In October, Justin Sun, ambassador and permanent representative from Grenada to the World Trade Organization and  founder of the TRON blockchain, was named to the global advisory board of Huobi, a popular cryptocurrency exchange.  

Prior to China’s ban on crypto trading, Huobi was a premier exchange in the country. Sun, who is one of the more prominent entrepreneurs in the blockchain industry, is using his position as an advisor to help Huobi navigate a strategic international expansion and rebranding campaign. Sun spoke recently at a Huobi branding and strategy launch event held in Singapore, outlining three overarching strategies the exchange plans to implement to achieve a more globalized approach and cement its place as a top three exchange worldwide. Sun summed up these strategies as “global development, technology drives development, and technology for good.”

"With its refreshed branding, new road map, and the guidance of its global advisory board, I am confident Huobi can strengthen its market leadership and reclaim its top rankings alongside other industry heavyweights," said Sun.

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Enhancing Asset Safety, Promoting Financial Inclusion

Huobi unveiled several new branding initiatives at the event, including a name change from Huobi Global to the simplified Huobi, as well as the launch of a new mission statement: “Enhancing Asset Safety, Promoting Financial Inclusion.”

The new name is composed of two Chinese characters: "火" and "必." Sun explained that, in Chinese culture, the first character represents perpetual vitality, while the second is associated with determination to win. These meanings align with Sun’s ambition to return Huobi to its position as one of the top exchanges in the industry.

Justin Sun also stressed that the company’s focus is to improve its status within the industry while adhering to the guiding principle of “science and technology for good,” emphasizing the benefits that a wider embrace of blockchain technology can have for the global economy.

Justin Sun’s Impact on Huobi Token

Sun has been quick to get to work after being appointed as an advisor for Huobi, and his association with the company has had a significant impact on the value of Huobi’s platform HT token.

Since Sun’s appointment on Oct. 10, the price of HT has risen by over 25%, with the price reaching as high as $9.52 in the weeks immediately following Sun’s appointment. The token had been hovering around $4 before Sun’s announcement.

Part of this increase was due to Sun’s strong support of HT. Following his appointment, he tweeted, “We know that the key to revitalizing Huobi is to empower HT, and HT can only thrive on Huobi.”

In another tweet, he emphasized, "In the future, there will be many big moves around HT, including brand upgrade, heavy empowerment, and business cooperation.” Sun told Bloomberg that he’s “one of the biggest holders” of HT in the world, owning “tens of millions” of HT.

Sun has done more than just talk about HT. He’s also helped Huobi secure several strategic partnerships. These include a partnership with TRON and the government of the Caribbean nation of Dominica to launch Dominica Coin (DMC), the first nationally endorsed token, and Dominica Digital Identification (DID), a digital ID linked to the metaverse. Sun also helped Huobi partner with TRON to expand the exchange’s token and stablecoin offerings, including TRON’s over-collateralized, decentralized USDD stablecoin. 

Going forward, Justin Sun plans on pursuing additional partnerships and expanded offerings, with the goals of growing Huobi’s user base at an international scale and increasing the volume of investors who trade on the exchange.