AltcoinCryptocurrency

DigiByte has been delisted by Poloniex: what has lead to this Urgent decision

Poloniex, the US-based crypto exchange has decided to delist DigiByte digital currency after a ‘careful review’. The decision has been made after the founder of DGB, Jared Tate, made a strong criticism against the Poloniex and Tron CEO, Justin Sun.

Delisting of DGB

The exchange is in a defensive mood when the founder of DGB raised questions about the decentralization of Poloniex and Tron network; and called Tron totally centralized. After a strong exchange of comments over Twitter, the platform decided to delist cryptocurrency.

Both companies, Poloniex and Tron, are engaged and made an investment together. It is said that the exchange is in the process to become the super representative of Tron Network and is going to transform the TRXMarket into the platform’s DEX. Over the delisting tweet, Tate passed a very disturbing comment and called it a ‘Scammers paradise’.

Various cases of delisting have been observed by the exchange in 2019 and the reasons behind were strict US regulations and liquidity issues of digital assets. But the recent activity by Poloniex raised many questions as it is based on the fight that happened on Twitter between both companies.

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After the delisting of DGB coin from the platform, they have announced that they are planning to offer free listing of any TRON-based TRC-20 tokens.

Blockchain ‘Hijacked’ by Tron

Jared Tate is writing a book entitled ‘Blockchain 2035’ and in this book, he attacked many giant tech pillars such as the founder of Tron and Binance co-founder. He unveiled that blockchain technology has been hijacked by companies like Tron. According to him:

$TRX is 100% premined & centrally controlled. 100 billion TRX was preissued by Justin Sun & the Tron Foundation where he is CEO. Right now 66 billion TRX are in circulation. So Sun still controls 34 billion $TRX after dumping $ millions on investors.

Criticism over the Decision

Crypto analysts and experts have also shared their sentiments over the recent heat between two companies. However, the major criticism is on the Poloniex exchange.

According to another crypto enthusiast on Reddit:

Poloniex delisting DGB proves Jared’s point. This was actually good for the DigiByte community, which is looking very strong and cohesive on Twitter. Ultimately DGB does not need Poloniex and I believe this flame war is going to bring in a new batch of DigiByte supporters.

 

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Leah Hutton

Leah Hutton has recently joined Tokenhell team as a freelance writer. She has comprehensive knowledge of blockchain and various cryptocurrencies.

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