The group’s proposed new name is New Huo Technology Holdings Limited, according to Hong Kong-based cryptocurrency exchange Huobi Technology Holdings. Additionally, it is said to be looking to sell a controlling interest in the business. At the meeting on October 13, shareholders will have the opportunity to vote on the proposed name change. Huobi attempted to sell a 60% share in the company in August, valuing it at $3 billion. The FTX and Tron founders, who were reportedly potential bidders, denied placing a proposal.
Huobi departed China following the crypto prohibition to pursue overseas prospects. However, the firm is experiencing pushback from Southeast Asian regulators, with the Thai SEC seizing the exchange’s license and Malaysian officials discussing putting Huobi on an investor alert list.
Huobi delisted a number of “privacy coins” in September, which may conceal transaction addresses and monitor ownership. Regulators have been looking into the use of cryptocurrency to enable payments for illegal activity and money laundering.