Lucie, the marketing lead for Shiba Inu, recently took to X (formerly known as Twitter) to express her frustrations with some crypto exchanges. In a strongly worded post, she criticized certain exchanges for focusing on profit rather than the integrity of the projects they list. While Lucie did not mention any specific exchange by name, her comments seemed to take a dig at Binance, the world’s largest crypto exchange.
Shiba Inu’s Lucie Exposes “Ugly Truth” About Exchange Listings
Today, Binance announced the listing of three of Shiba Inu’s rival memecoins: Neiro (NEIRO), Turbo (TURBO), and Baby Doge Coin (1MBABYDOGE). Potentially aiming for these listings, Lucie wrote on X, “Ugly truth. Some exchanges don’t care if a token won’t exist next year, or even in a few months. If there’s a high-potential token backed by a solid blockchain, they still won’t list it unless you pay them. It’s all about business now—integrity in this market is no longer part of the game.”
Ugly truth
Some exchanges don’t care if a token won’t exist next year, or even in a few months. If there’s a high-potential token backed by a solid blockchain, they still won’t list it unless you pay them. It’s all about business now—integrity in this market is no longer part…
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) September 16, 2024
Furthermore, she highlighted that the current crypto market seems to be driven by business interests rather than the quality of projects being listed. In addition, her comment appears to target exchanges that prioritize financial gain over long-term growth or sustainability. Shiba Inu’s Lucie also pointed to the volatile nature of recent token listings. “But why pay for a listing?! Tokens listed recently are down 30-50% from the time they hit exchanges,” she stated.
Whilst, the rival memecoins witnessed a surge in price Binance announced it would be listing them on September 16, 2024, at 10:00 UTC. Trading will commence for the pairs NEIRO/USDT, TURBO/USDT, and 1MBABYDOGE/USDT, with deposits for these tokens already open an hour earlier. Withdrawals will open on September 17, 2024, at 10:00 UTC.
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However, despite the hype, the listing fees for these tokens were notably set at 0 BNB. It’s an indication that Binance may not have charged these projects for the listing, although Lucie’s criticism appears to allude to paid listings in general. Nevertheless, since these tokens are extremely volatile, her critique still stands.
Other Concerns
The Shiba Inu exec’s post also touched on a broader issue she sees in the crypto domain, spotlighting Decentralized Finance (DeFi). Lucie noted, “We should focus on educating and spreading the word about DeFi. If exchanges really cared, they’d support good projects—not just chase the flavor of the week. Let’s push for real growth, not quick fixes.”
The mention of “flavor of the week” projects appears to refer to the frequent addition of new memecoins, which, while popular, often experience significant price drops after their initial listing. This trend was also witnessed today as the Neiro token slumped over 25% after an initial 18% rally today.
Whilst, in a separate post, she also expressed her thoughts on the Crypto.com exchange. She stated, “I like exchanges for exactly what they’re meant for: quick exchanges and cards. For example, Crypto.com is great, but they have one big flaw — they haven’t integrated Shibarium yet.” Lucie also tagged Crypto.com’s founder and CEO Kris Marszalek to the post, doubling down on advocacy for the Shiba Inu ecosystem and its layer-2 solution, Shibarium.
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