Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesBotsEarnCopy
Neiro Cuts Ties with Controversial Market Maker Amid Community Scrutiny

Neiro Cuts Ties with Controversial Market Maker Amid Community Scrutiny

Cryptodnes2024/10/12 13:06
By:Cryptodnes

Neiro, a memecoin project previously linked to market maker Gotbit, has announced it is severing ties with the firm amid growing criticism from the crypto community, particularly from prominent investigator ZachXBT.

In its statement , Neiro clarified that the issues surrounding Gotbit do not pertain to its own operations. The project emphasized that distancing itself was a necessary step. To facilitate this separation, Neiro has transferred some funds back to its community multisig wallet.

Meanwhile, the Chief Technology Officer (CTO) plans to use personal finances temporarily to keep market-making activities afloat, as the team seeks reputable market makers for a smooth transition.

ZachXBT questioned the initial choice to partner with Gotbit, noting its poor reputation and recent accusations of fraud and market manipulation from U.S. authorities.

READ MORE:
Millennials Embrace Crypto as Key Investment Strategy, Says Charles Schwab

In response, Neiro’s CTO explained that the decision was made under pressure, as they needed a market maker quickly for their listing on HTX. He admitted that Gotbit was the only option available at the time, citing budget constraints and prior connections as factors influencing their choice.

Despite acknowledging Gotbit’s controversial standing, the CTO stated that limited funds and urgent timelines dictated their decision to collaborate.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

Trump turns on ‘buddy’ Putin over Ukraine, says he’ll slap Russia with sanctions now

Share link:In this post: Trump warned he may hit Russia with new sanctions after fresh missile attacks on civilians. Trump met with Zelenskyy in Rome and called the meeting productive, but gave no full details. Trump offered a peace deal that includes recognizing Crimea as Russian territory, which Zelenskyy rejected.

Cryptopolitan2025/04/26 21:12

Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral

Share link:In this post: Trump’s economic and diplomatic tensions took over the spotlight at Pope Francis’ funeral. Trump met briefly with Zelenskyy, Macron, and Starmer during the service but made little progress. Trump skipped a second meeting with Zelenskyy and left Rome quickly after the Mass.

Cryptopolitan2025/04/26 21:12
Trump’s economic and geopolitical failures took center stage at Pope Francis’ funeral

Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission

Share link:In this post: Elon Musk called OpenAI restructuring plan the “scam of the century” after experts oppose it. Legal and AI experts have called on Attorneys General of Delaware and California to OpenAI core mission as a non-profit. Concerns about Open AI deviating from its non-profit origins is not limited to Musk.

Cryptopolitan2025/04/26 21:12
Elon Musk and Nobel laureates call for investigation into OpenAI’s nonprofit mission

Republicans propose shutting down US audit regulator PCAOB

Share link:In this post: Republicans plan to scrap the Public Company Accounting Oversight Board (PCAOB). The agency’s responsibilities could be pushed to the SEC if the lawmakers succeed in shutting it down. Republicans also want to pass a major tax bill that could change the non-profit sector.

Cryptopolitan2025/04/26 21:12
Republicans propose shutting down US audit regulator PCAOB