Poloniex Delists Digibyte After Founder Took Aim At Justin Sun’s Tron

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Poloniex Delists Digibyte After Founder Took Aim At Justin Sun’s Tron
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Poloniex crypto exchange made headlines after it announced acquiring Tron Network’s largest decentralized exchange TRX Market, which came shortly after Tron Founder Justin Sun admitted to purchasing a stake in the exchange after it spun off from Circle.

Now, Poloniex is delisting Jared Tate’s pet project, Digibyte, after declaring that the token no longer met its required standards for listing.

Digibyte Founder Jared Tate Slams Tron, And Binance

A few days ago, Jared Tate took to Twitter to criticize Tron CEO Justin Sun and Binance CEO Changpeng Zhao calling them “crooks”.

In a lengthy tweetstorm on December 4, Tate astutely observed that Tron is highly centralized and Justin Sun controls a chunk of the pre-mined TRX. He also claimed that of the 27 nodes that Tron runs on, most of them are controlled by Justin Sun and the Tron Foundation using DPoS. Tate had allegedly conversed with former Tron CTO Lucien Chien who quit earlier in the year, and he concurred with his centralization concerns.

He went ahead to say that Tron is not special by any means, besides the few gambling apps, marketing hype and paid Twitter bots. He also brought up the fact that Tron plagiarized Litecoin’s white paper.

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Regarding Binance, Tate made some claims sometime this year, saying that the Binance team had asked for $300,000  and 3% of DGB’s supply to list the coin. Binance CEO Changpeng Zhao responded to this allegation noting that he was “not gonna waste any time on these type of guys”. This time, he posited that Binance controls 56% of Tron voting power.

Digibyte (DGB) Slumps By 3% Following The Delisting

Tate then took a direct aim at Poloniex stating that he was upset the exchange now holds a lot of sensitive information regarding US customers. The exchange responded moments later, announcing the delisting of Digibyte. However, more details will be announced soon.

This decision to delist Digibyte came as a bit of a surprise to many because Poloniex had stopped delisting crypto-assets since spinning off from Circle.

On the heels of this announcement, Digibyte (DGB) price has dropped by 3.43 percent on the day to trade at $0.006517. DGB boasts a market cap of $81.89 million and is ranked as the 55th largest crypto according to CoinMarketCap’s ranking.

Crypto Community’s Reaction To The Axing

The general consensus among the crypto community was that the delisting came as a result of the disparaging comments made about TRON by Tate. Some, however, believe that the delisting is good for Digibyte and will likely attract new Digibyte supporters, adding that it ultimately proves Tate’s point.

Renowned analyst @CryptoCred lambasted the exchange’s claim that they had delisted Digibyte after “careful review”. He pointed out that the delisting had only taken place mere hours after Tate criticized Tron.

Moreover, Tim Swanson, the head of marketing intelligence at UK-based blockchain builder Clearmatics, asked what the new listing standards for Poloniex exchange were, sarcastically asking:

“The ability to make an announcement for announcement?” 


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.