Poloniex Delists DigiByte After Twitter Brawl With its Founder


On December 5, 2019, US-based crypto exchange Poloniex announced it would delist DigiByte (DGB) hours after the founder of DigiByte network, Jared Tate, criticized both Tron and Poloniex.

Poloniex has been in the news lately after being acquired Tron’s decentralized exchange, TRXMarket. Justin Sun, CEO of Tron, was suspected to be one of the investors who had participated in the purchase of Poloniex from Circle. 

Poloniex’s latest battle with Jared Tate has now placed the exchange under the spotlight again.

In a raging tweetstorm, Tate alleged that the Tron network is completely centralized. He also alleged that nothing about the network is unique other than a few gambling apps and their marketing hype.

Recently, Poloniex had shut down trading for citizens of the US. Citing the same, Tate tweeted:

“Now Poloniex has turned into a TRX shill factory after making off w/US customer’s sensitive data.”

Replying to the allegations, Poloniex exchange tweeted that they don’t own Circle preserves any US customers’ data as all of them. They also hit back at Tate’s blockchain network by adding:

“BTW, after careful review, we decided #DigiByte is not qualified for our listing standard. We will delist $DGB soon.”

The platform is currently responsible for 5% of the DGB trading volume and is 6th by this measure among exchanges that list DGB. 

The Crypto Community Disappointed with Poloniex

Many members of the crypto community expressed their disappointment in Poloniex following Tate’s feud with the exchange. 

Bitcoiner and developer Udi Wertheimer tweeted that Poloniex was a completely irrelevant exchange up until a few months ago, but now they have gained unmerited hype with a new eccentric owner (Justin Sun) and an aggressive social media strategy.

Meanwhile, Twitter user @teddycleps criticized Poloniex by saying:

“Imagine delisting a coin just because its founder spoke “badly” about you – this industry in a nutshell.”

Many more crypto enthusiasts joined the conversation. Many insisted that Poloniex’s move to delist DGB proved that exchanges are privately owned companies and are under no obligation to list or trade any asset.

Tron No Stranger To Criticism 

Poloniex’s recent battle with the founder of the DigiByte blockchain network has apparently brought to light some old allegations about against the Tron network.

Earlier this year, Lucien Chen, who is the former Chief Technical Officer [CTO] at the Tron Foundation, quit the project stating that it was tremendously centralized. 

He specified that everything, including token distribution, super representatives, community, and even code development, is centralized.

Even more, criticism came from Litecoin’s creator Charlie Lee, who last year called out Tron for copying its whitepaper from other projects. 

Tate backed his tweets with the same damning accusations against Tron by claiming that the platform runs on a total of 27 “Super Representative” nodes mostly controlled by Sun and the Tron Foundation.

Wayne Jones
Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, I cover trendy issues on digital currencies.

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