Market Data 
HTX, a Singapore-based cryptocurrency exchange, has announced the appointment of Hassan Sunny, the national football team goalkeeper, as its new Chief Safeguarding Officer (CSO).
Although the move is promoted to bolster the exchange’s commitment to ensuring “the safety and security of user assets” in the crypto world, It is essentially a sponsorship agreement with a new ambassador from the world of sports.
Sunny, who recently gained national hero status in China for his performance in the 2026 FIFA World Cup Asian Qualifiers, has been the goalkeeper for the Singapore national team since 2004, playing 115 matches during this time. Since 2023, he has also been associated with the local club Albirex Niigata.
During the mid-June match against Thailand, he saved 11 shots from the opposition, ultimately eliminating Thailand from further qualifying competitions and helping China to advance to the next phase of the competition.
“The partnership between HTX, the ‘People’s Exchange’, and Hassan Sunny, the ‘People’s Goalkeeper’, is a perfect match,” said Justin Sun, the Member of the HTX Global Advisory Board.
HTX has established its latest sponsorship collaboration with a popular Asian athlete at a time when its trading volumes have significantly increased. Finance Magnates reported at the end of May that the exchange surpassed Coinbase by reaching $2.4 billion in spot trading volume.
For the first time, @HTX_Global has more spot trading volume than @coinbase. This is just the beginning, and we are just getting started. 🫡 pic.twitter.com/VeYHFCviHy
— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 27, 2024
“Just as Sunny fearlessly protects his goal on the field, HTX is committed to protecting every user’s assets with the same determination and resolve, providing the safest and most reliable investment environment possible,” added Sun.
From Huobi to HTX: Navigating Brand Changes and Security Setbacks
Last September marked a significant milestone for the cryptocurrency exchange formerly known as Huobi, which rebranded itself as HTX to celebrate its tenth anniversary.
The newly adopted name HTX is imbued with symbolism: ‘H’ for Huobi, ‘T’ for TRON, and ‘X’ reflecting the essence of an exchange. This change commemorates a decade of operation and aligns the name with the exchange’s native cryptocurrency, represented by ‘HT’, and the Roman numeral ‘X’ for ten.
However, HTX encountered serious security issues during its evolution. A major cyberattack in September 2023 led to a loss of $7.9 million in digital assets. The blockchain analytics company Cyvers detected and publicized this breach.
The troubles continued into November when another breach resulted in a $30 million loss, forcing HTX to cease operations temporarily. This incident triggered a sharp withdrawal of funds by investors. Between the resumption of services on November 25 and December 10, HTX saw a net outflow of $258 million, as reported by DefiLlama.
