Cointime

Cointime

Download App
iOS & Android

The HTX DAO 2024 The People's Exchange Launch Ceremony successfully

On February 2nd, the HTX DAO 2024 and the People's Exchange Launch Ceremony took place in Singapore, unveiling the decentralization journey of HTX and designating the People's Exchange as its core essence. At the event, core supporter of HTX DAO and member of the Global Advisory Council for HTX, Justin Sun, made a significant speech, elucidating the concept behind the first People's Exchange. Moreover, there was a collaborative dialogue on the governance of HTX DAO and the People's Exchange with the HTX DAO Governance Committee, ecosystem participants, and industry media.

HTX DAO: Empowering the Community

Justin Sun highlighted that to prevent tragedies like FTX and Mt. Gox from recurring, only a decentralized governance model can break through the ceiling of asset size in the context of the industry's continuous growth and ensure the long-term safety of exchange users' assets. Furthermore, decentralization alone can elevate the blockchain and exchange industry to a trillion-dollar asset scale. HTX DAO aims to lead industry evolution, creating a new paradigm for safeguarding users' assets within the exchange industry.

HTX DAO was officially established on January 18th as a leading decentralized autonomous organization within the blockchain ecosystem, focusing on open finance and a decentralized tokenized economy. Its name encapsulates its characteristics and strategic direction as a DAO:

"H" symbolizes the HTX exchange, emphasizing its crucial role as the largest liquidity contributor within the HTX DAO ecosystem.
"T" stands for TRON, representing the technological innovation driving the HTX DAO ecosystem forward.
"X" signifies change and potential, encapsulating the core beliefs of the HTX DAO vision. "X" also represents the multitude of renowned entities that form the foundation of the DAO ecosystem, which will ultimately become indispensable parts of the HTX DAO ecosystem.

Justin Sun stated that HTX aims to be a decentralized, democratically governed exchange, a goal to be achieved through HTX DAO. Holders of the $HTX token will have rights to vote on listings, question, and decide on governance issues, aiding HTX in its path to decentralization and eventually becoming the true owners of the platform.

HTX DAO Gives the HTX Exchange a Second Life

At the ceremony, Justin Sun directly stated that HTX DAO would gives the HTX a second life, leading its development into the next decade through decentralized governance, ensuring HTX can operate continuously and healthily like a civilization. With HTX DAO and $HTX, HTX will maintain a centralized operational structure while birthing a decentralized governance, brand, and decision-making framework, showcasing the vitality and competitiveness of a democratic community.

In Sun's view, HTX DAO will possess community decision-making, governance, and operational capabilities, capable of forming the HTX Senate to actively debate and decide on the development of HTX, coming from and serving the community, making HTX a true People's Exchange.

Notably, besides HTX, Ankr, Spark Digital Capital, Double Peak Capital, Zebec, Merkle 3s Capital, TRON, BitTorrent, JustLend DAO, Poloniex, Sun.io, Spark, Stratified Capital, stUSDT, APENFT, and other projects/institutions have joined as builders in the HTX DAO ecosystem. Concurrently, as ecosystem builders, entities including HTX, TRON, BitTorrent, APENFT, etc., will allocate funds to donate to the HTX DAO ecosystem liquidity, jointly supporting the development of HTX DAO.

Justin Sun concluded that HTX has traversed a decade of centralization and hopes in the next decade to achieve a transformation into decentralization, ensuring long-term stability—a fully democratized mechanism, transparency visible to all, a true People's Exchange.

The conference has garnered widespread attention from the HTX community and the crypto market. Representatives from leading Web3 institutions such as Fireblocks, HashKey, Bithumb, Paradigm, and industry media including The Wall Street Journal, The Korea Times, FT Chinese, The Straits Times, Jinse Finance, PANews attended the ceremony.

HTX DAO
Comments

All Comments

Recommended for you

  • ETH Trading Volume on Hyperliquid Exceeds BTC, Reaching Approximately $1.1 Billion in 24 Hours

    On October 11, the trading volume of ETH on the Hyperliquid platform reached approximately $1.1 billion in the last 24 hours, surpassing BTC's $805 million. Market analysts believe that the increase in ETH trading volume is related to suspected exploitation of the PaperTrade mechanism. Earlier today, reports indicated that PaperTrade was allegedly manipulated by two addresses, revealing a significant vulnerability in the protocol: the two wallet addresses executed trades on Hyperliquid with a single transaction size of about $20 million, causing ETH prices to fluctuate by approximately 10 to 20 basis points, and establishing long positions with a notional value of several hundred million dollars on PaperTrade.

  • Ledger Confirms Unauthorized Hardware Implant in Devices, Losses May Exceed $86 Million

    On October 11, Cointelegraph reported that hardware wallet manufacturer Ledger confirmed the presence of unauthorized hardware implants in the devices of an affected user. The incident involves losses related to devices purchased from its Southeast Asian distributor, CryptoBilis. Investigator Specter estimates that the losses may exceed $86 million, involving Bitcoin, Ethereum, and Tron. Ledger stated that it is in contact with the affected users; CryptoBilis has confirmed the suspension of all hardware wallet inventory sales until the investigation is complete. Ledger claims that the incident appears to be limited to this single distributor and its market, and that its own infrastructure, systems, and services have not been compromised. The company has not yet confirmed the number of affected customers or the total amount of losses. Ledger advises users who have not initialized their devices to refrain from doing so, while those who have already initialized their devices may consider transferring their assets to a new signer using a new mnemonic.

  • Anthropic Model Automatically Submits False Leads to Philadelphia Police

    On October 11, according to CCTV International News, the AI model 'Claude Haiku 4.5' from Anthropic automatically accessed the Philadelphia Police Department's webpage for unsolved homicide tips in July this year, filling out a form claiming to have 'potential information related to the case' but did not provide a name or contact information. The form was subsequently marked as spam by the police and did not trigger an investigation. Anthropic released a report on October 9 disclosing the incident and notified the Philadelphia police in advance. The police stated they were previously unaware of the situation, deemed it 'unacceptable,' and requested that technology companies take necessary measures to prevent their AI systems from submitting false information to law enforcement.

  • Industrial Fulian: US International Trade Commission Initiates 337 Investigation Against Company and Subsidiary

    On October 11, Industrial Fulian announced that it was informed the US International Trade Commission officially launched a 337 investigation on October 9 local time, regarding patent infringement claims made by Vicor Corporation. Vicor accuses the company and its subsidiary of infringing on a patent for a 'vertical power supply system.' After an internal review, the company stated that the products involved in this investigation are currently in the internal validation and evaluation stage, and this investigation does not have a substantial impact on the company's current production, operations, or performance.

  • CFTC Issues Two Proposals Clarifying Prediction Markets as Derivatives, Excluding Casino Gambling

    On October 11, Cointelegraph reported that the U.S. Commodity Futures Trading Commission (CFTC) has released two proposals to clarify its regulatory authority over prediction markets. The first proposal defines event contracts related to sports, politics, culture, and weather as 'swaps' products under federal law. CFTC Chairman Michael Selig stated that these products fall under the category of commodity derivatives as defined by the Commodity Exchange Act, and are fully within the exclusive jurisdiction of the CFTC. The second proposal establishes boundaries, explicitly stating that traditional casino-style gambling products—including sports betting and casino games—do not fall within the definition of 'swaps' and are not considered derivatives. This move comes in the context of prediction market operators like Kalshi and Polymarket facing joint lawsuits from multiple states, accused of operating illegal gambling businesses; the CFTC is counter-suing and issuing new regulations in an attempt to clarify the regulatory boundaries between federal and state authorities, paving the way for a potential Supreme Court ruling.

  • Houthi Forces Warn Airlines, Staff, and Passengers Again

    On October 11, the Houthi forces in Yemen issued another warning to airlines, staff, and passengers, advising them not to use airports within Saudi Arabia.

  • U.S. Spot Bitcoin ETF On-Chain Holdings Exceed 2 Million BTC

    As of October 11, data from Dune shows that the on-chain total holdings of the U.S. spot Bitcoin ETF have surpassed 2 million BTC, currently reaching approximately 2.013 million BTC, which accounts for 10.02% of the current BTC supply. The value of the on-chain holdings has reached approximately $227.6 billion.

  • Hedge Fund Net Exposure to US Tech Giants Reaches Record High of 22%

    On October 10, according to data from Goldman Sachs and The Kobeissi Letter, investor sentiment towards large tech stocks has reached an all-time high. Hedge fund net exposure to the 'Big Seven' tech giants in the US has risen to 22%, marking a historic peak; this figure has surged by 7 percentage points since July, representing the largest three-month increase in 2023, and surpassing the previous high of 21% set in June 2024 (compared to only 8% during the bear market low in 2022). During the same period, hedge fund net exposure to semiconductor stocks in the US has increased to 12%, slightly below the peak of 14% in June 2026, while this metric was only 2% at the beginning of 2025.

  • Anthropic Reveals Internal Issues: Out-of-Control AI Attempted to Access Multiple Government Websites, Reported to the White House

    Anthropic stated on Friday that its AI agents acted autonomously, attempting to access various federal, state, and local government websites. The company did not disclose which government agencies were involved but confirmed that it has reported these incidents to the White House. In a blog post, Anthropic mentioned that one of its AI models under testing had taken several unauthorized actions, including exploiting a vulnerability on a university website to download data and submitting a form to a government agency that it had been explicitly instructed not to submit. The company noted that it discovered these incidents after beginning a review of the AI's actions in July. Earlier on Friday, the Philadelphia Police Department stated that Anthropic had notified them that its technology had submitted a false homicide tip to the police website.

  • No Flights Departing or Arriving at Riyadh's King Khalid Airport Following Explosion Sounds

    On October 10, according to CCTV International News, witnesses reported that explosion sounds were heard at Terminal 3 of King Khalid International Airport in Riyadh, the capital of Saudi Arabia, this afternoon, leading to the evacuation of personnel from the airport. Flight tracking website 'FlightRadar24' indicates that there are currently no flights departing or arriving at the airport, and some flights heading to Riyadh have been diverted or returned. King Khalid International Airport has issued a traveler advisory, recommending that passengers contact their airlines to confirm flight status before heading to the airport.

Daily Must-Read

Popular Activities

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

RaveDAO at Terra Solis by Tomorrowland: A Female-Led Techno Night Where Web3 Culture Converges

April 30 - April 30
Dubai

Popular Tags

Cointime
News
Contents
RSS
Company