X-Spot granted trademark injunction against Huobi Global in Hong Kong

X-Spot International Restricted, an organization owned by Huobi International change (now HTX) co-founder Leon Li, has received an injunction in opposition to Huobi International for the latter to stop its use of the Chinese language-equivalent “Huobi” trademark in Hong Kong.

In keeping with a current determination with the Hong Kong Excessive Court docket, the HTX change might be barred from utilizing the trademark title Huobi (火幣) and the Chinese language enterprise title “火必,” which is “confusingly related” to the English trademark in Hong Kong, pending a last trial on the matter. Presiding decide Mimmie Chan J wrote: 

“At this stage, I’m unable to see any controversial defence to the Plaintiff’s declare of trademark infringement, and as Counsel for the Plaintiff submitted, there isn’t any want to contemplate the adequacy of damages or the steadiness of comfort for the grant of the Injunction sought.”

Court docket paperwork reveal that the Huobi trademark was registered in 2019 in Hong Kong. In September 2022, Huobi International was offered by co-founders Leon Li and Du Jun to About Capital administration, an entity linked to Chinese language blockchain persona Justin Solar. 

Nevertheless, based on courtroom filings, the Huobi trademark was assigned, or rights totally transferred, to Leon’s X-Spot International Restricted, previous to the September 2022 acquisition, which is “not disputed” by both social gathering. In July 2023, X-Spot International sued Huobi International in Hong Kong for trademark infringement. On the time, Huobi International stated that “it holds trademark rights in lots of authorized jurisdictions all over the world and is due to this fact entitled to make use of them freely.” 

Cointelegraph beforehand reported that in Might 2023, Justin Solar printed a sequence of allegations in opposition to Wei Li, Leon Li’s brother. Within the tweet, Solar accused Wei Li of receiving hundreds of thousands of Huobi Tokens by way of “irregular means” at zero value and of “persistently promoting off these HT tokens and cashing out.” To which Lin Li replied: “I hope Huobi can present proof. Whether it is confirmed that it’s zero-cost HT was obtained by way of unlawful means, I’ll personally pay 10 occasions the HT [amount] to Huobi firm.”

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