Neiro, a popular memecoin, has announced the termination of its relationship with Gotbit, a market maker company that has recently faced legal scrutiny. The decision comes in response to criticism surrounding Neiro’s association with Gotbit, which was under investigation by the US Department of Justice.
In a statement released by Neiro, the project emphasized that it was not involved in any wrongdoing related to Gotbit’s activities. However, the team felt it was necessary to distance themselves from the controversy to maintain the project’s integrity.
To ensure a smooth transition, Neiro has withdrawn funds from Gotbit and is actively seeking new market makers. The project aims to partner with reputable firms that are aligned with its long-term goals.
Cryptocurrency sleuth ZachXBT questioned Neiro’s initial choice of Gotbit, given the company’s history of alleged pump-and-dump schemes and recent legal troubles. In response, Neiro’s CTO explained that they were under pressure to find a market maker quickly due to the listing on HTX exchange. Gotbit was the most affordable option at the time, and the team was unaware of the company’s full history.
The CTO acknowledged that the decision to partner with Gotbit was a mistake and that they should have conducted more thorough due diligence. He said that the experience has been a valuable lesson and that Neiro is committed to improving its practices and partnering with more reputable market makers in the future.
