Neiro Cuts Ties with Controversial Market Maker Amid Community Scrutiny

Neiro, a memecoin project previously linked to market maker Gotbit, has announced it is severing ties with the firm amid growing criticism from the crypto community, particularly from prominent investigator ZachXBT.

In its statement, Neiro clarified that the issues surrounding Gotbit do not pertain to its own operations. The project emphasized that distancing itself was a necessary step. To facilitate this separation, Neiro has transferred some funds back to its community multisig wallet.

Meanwhile, the Chief Technology Officer (CTO) plans to use personal finances temporarily to keep market-making activities afloat, as the team seeks reputable market makers for a smooth transition.

ZachXBT questioned the initial choice to partner with Gotbit, noting its poor reputation and recent accusations of fraud and market manipulation from U.S. authorities.

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In response, Neiro’s CTO explained that the decision was made under pressure, as they needed a market maker quickly for their listing on HTX. He admitted that Gotbit was the only option available at the time, citing budget constraints and prior connections as factors influencing their choice.

Despite acknowledging Gotbit’s controversial standing, the CTO stated that limited funds and urgent timelines dictated their decision to collaborate.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.