CandleFocus Gotbit? Never Heard of It! Meme Coins Try to Distance Themselves
2024-10-11
Author: Content Editor
Several token projects have publicly distanced themselves from market maker firm Gotbit, following the firm's legal troubles. Ethereum meme coin project Neiro announced on Twitter that it had ended its relationship with Gotbit, stating that the issues surrounding the firm were not relevant to Neiro. However, members of the crypto community questioned why Neiro partnered with Gotbit in the first place. Other meme coin projects, including Tron meme coin BMS, also announced their separation from Gotbit but noted that the company still held a significant amount of their tokens. The US Department of Justice has accused Gotbit of engaging in illegal wash trades and pump and dump schemes. Gotbit co-founder Alexey Andryunin had previously openly spoken about the company's manipulation of crypto markets.
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