Checked out the Q3 2026 report released by Huobi HTX, and there are a few points worth discussing. First, the cumulative trading volume for TradFi is nearing $6 billion, which shows that HTX is trying to evolve from a pure crypto trading platform into a more diversified asset trading gateway. Second, there’s new progress in compliance efforts in Dubai and Pakistan. For exchanges, traffic drives short-term growth, but long-term success still depends on compliance, security, and product experience. What really hit me, though, is the 13th anniversary. 13 years in crypto—so many platforms that were once thriving have disappeared. Being able to survive multiple bull and bear cycles and stay in the game is no small feat. The achievements are commendable, but how far they can go in the future will still depend on their products and user reputation.