Neiro Ends Partnership with Gotbit: Unpacking the Controversy Surrounding the Dominant Coin’s Market Maker

On October 11, COINOTAG reported a significant development in the crypto sector, as chain detective ZachXBT raised concerns regarding Neiro’s recent termination of its partnership with the market maker Gotbit. In a detailed social media post, ZachXBT questioned the rationale behind Neiro’s initial choice of Gotbit, highlighting the negative reputation that has surrounded the firm for an extended period. This scrutiny follows recent allegations made by the US government accusing Gotbit of involvement in fraud and market manipulation, culminating a series of previous incidents suggesting potential engagement in pump and dump schemes. Such revelations not only call into question the operational integrity of Gotbit but also emphasize the necessity for crypto projects to conduct thorough due diligence when aligning with market makers to safeguard their community’s interests.