X-Spot Global Wins Injunction Against Huobi Global Over Trademark Dispute
X-Spot Global Limited, a company owned by Leon Li, co-founder of Huobi Global exchange (now HTX), has obtained an injunction against Huobi Global to stop using the “Huobi” trademark in Hong Kong. The court ruled that HTX will be prohibited from using the trademark name Huobi (火幣) and the Chinese business name “火必,” which is considered confusingly similar to the English trademark. The decision was made by the Hong Kong High Court, and a final trial on the matter is pending. The judge presiding over the case stated that there was no arguable defense for trademark infringement. The Huobi trademark was registered in Hong Kong in 2019.
Trademark Ownership and Lawsuit
In September 2022, Huobi Global was sold to About Capital Management, linked to Justin Sun. However, court documents show that the Huobi trademark was assigned to X-Spot Global Limited before the acquisition. In July 2023, X-Spot Global sued Huobi Global for trademark infringement. At that time, Huobi Global claimed to have trademark rights in various jurisdictions and therefore had the right to use them freely.
Hot Take: Trademark Battle Between X-Spot Global and Huobi Global
The legal battle between X-Spot Global and Huobi Global over the use of the “Huobi” trademark highlights the importance of protecting intellectual property rights in the crypto industry. With blockchain companies expanding globally, disputes over trademarks and brand names are becoming increasingly common. This case serves as a reminder for crypto companies to carefully consider their branding strategies and ensure they have proper legal protection for their trademarks. Ultimately, it will be interesting to see how this dispute unfolds and what impact it will have on the reputation and operations of both companies involved.
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