Developers of the Controversial Altcoin Address Concerns and Part Ways with Market Maker
In a recent statement, the developers behind the highly criticized altcoin, Neiro, have announced that they have severed ties with their market maker partner, Gotbit. The decision comes as Neiro faces intense scrutiny from the crypto community, particularly from prominent crypto researcher ZachXBT.
Neiro clarified in their statement that the issues surrounding Gotbit and its employees do not involve or affect their project in any way. However, they acknowledged that distancing themselves from Gotbit is the right decision to protect the Neiro project and community.
As part of the separation, Neiro has transferred some market maker funds to their community multisig wallet. Additionally, Neiro’s CTO has pledged to personally contribute funds to support the maintenance of market maker operations temporarily. In the meantime, the project is actively seeking new market makers to ensure a smooth transition, aiming to find suitable partners within a few hours or days.
ZachXBT, known for his thorough crypto investigations, responded to Neiro’s announcement by questioning the initial decision to collaborate with Gotbit. He urged the Neiro team to explain why they chose to work with a company that has faced allegations of fraud and market manipulation from the US government.
The CTO of Neiro addressed these concerns in a social media response, revealing that the decision to partner with Gotbit was driven by time constraints and limited finances. When Neiro was about to be listed on HTX and needed a market maker, Gotbit was the only option they had because of their prior connection with the company. The CTO admitted being aware of Gotbit’s tarnished reputation but emphasized their affordable services aligned with Neiro’s financial limitations.
It remains to be seen how this separation will impact Neiro’s future, but the project’s developers are committed to finding a more reputable market maker to ensure the project’s continued progress.