Kraken’s false promises anger SHIB traders
- Posted on June 6, 2022
Crypto community unhappy with breach of Kraken listing promise
Shiba Inu
The community was not happy with the decision to list the token.
happened
On Monday, U.S.-based cryptocurrency exchange Kraken pledged in a tweet that it would include Shiba Inu on Nov. 2 if it gets 2,000 likes on the post.
@BRIANCHOFFMAN says if we get 2,000 likes we’ll list $SHIB tomorrow – but he doesn’t think we can. #SHIBARMY where are you?
— KRAKEN Exchange (@KRAKENFX) November 1, 2021
The tweet in question garnered 2,000 likes within minutes of posting and now has over 81,000 likes. Still, Shiba Inu traders were disappointed to see the token not even listed on Nov. 3, despite the company’s promises.
On Wednesday, the exchange confirmed that it would not actually include Shiba Inu in its offer as it “has more work to do” during its listing review process.
SHIBARMY We have heard you clearly!
The community is an important part of all our lists, and you’ve made your support clear.
We have more work to do as we complete the listing review process.
— KRAKEN Exchange (@KRAKENFX) November 2, 2021
Supporters of Shiba Inu were outraged after the platform reversed its decision to list the cryptocurrency and turned to Twitter Inc. TWTR -3.72%
to express your disagreement.
Some users decided to move funds to Coinbase Global Inc. after users claimed that false promises would damage Kraken’s credibility as a cryptocurrency exchange.
Due to Kraken’s actions.
I have been using @KRAKENFX since 2016 and now you have lost me as your client. I’ll take my pennies to @COINBASE, at least they don’t tweet empty promises and lie to their investors.
— George (@ART_VANDELAYYY) November 3, 2021
Be careful, siren. Saying you would list a coin and then not list it after a price move could be market manipulation. Especially when the effects of the listing are well known. Worse yet, if KRAKEN employees buy and sell coins around this knowledge… insider trading?
— WILL WEISKOPF (@WILL_WEISKOPF) November 3, 2021
If the exchange I’m investing in is playing the game right now, I’ll move to another exchange… Very unprofessional… Maybe more…
- Halo (@TEMECULAHALOS) November 2, 2021
price fluctuation
Shiba Inu is down 20.21% in the past 24 hours after a large cryptocurrency holder moved 40 billion tokens through the blockchain. At the last check on Thursday morning, the coin was trading at $0.00004938 with a volume of $8.8 billion.
It is now ranked 11th in the market cap, below rival Dogecoin Doge
, currently ranked ninth with a market cap of $34 billion.
Crypto community unhappy with breach of Kraken listing promise