Rahul Sood, chief executive of esports betting company Unikrn has taken to Twitter to voice his opinions on having his company’s crypto token, UnikrnGold (UKG) removed from OKEx.
OKEX straight up asked us to increase volume by any means necessary or get delisted. Wonder why the SEC won't approve ETFs? 🤔— Rahul Sood 🦄 (@rahulsood) November 29, 2018
Sry OKEX we'd rather focus on our business not yours. @SilvioSchembri @JosephMuscat_JM this is why 🇲🇹 needs to be very selective.
He then goes on to say that Bittrex “is the most legit exchange” that has “no bullshit fees to get listed,” and that “other exchanges are in trouble long-term,” before taking aim at OKEx once again.
Bittrex is the most legit exchange, period. No bullshit fees to get listed, no fake volume or manipulation, the future of Blockchain tokens will be tokenized securities on approved exchanges with ring fenced custody. These other exchanges are in trouble long term.— Rahul Sood 🦄 (@rahulsood) November 29, 2018
The fact that OKEX charges token teams massive listing fees then forces them to fake liquidity is 😂.— Rahul Sood 🦄 (@rahulsood) November 29, 2018
Exchanges need to stop robbing token teams & start building platforms to enable innovation & access.
They need real tokens like $UKG more then we need them.
Sool then called on Malta’s Prime Minister, Joseph Muscat to “be careful.” A warning apparently aimed at the many exchanges that follow “some really bad practices.”
Take notice @JosephMuscat_JM. You know Unikrn loves 🇲🇹, you know how hard we worked to get our gaming license. We ♥️ your support of #Blockchain, but be careful.— Rahul Sood 🦄 (@rahulsood) November 29, 2018
There are some really bad practices by many exchanges, and I can honestly only think of a few legit ones. Very few.
Sool then shifts his focus from OKEx to KuCoin as well, having also been delisted from their exchange, saying:
To the exchanges that are delisting us unless we boost volumes by any means necessary, you shall be named.— Rahul Sood 🦄 (@rahulsood) November 29, 2018
What a dumb way to grow your business.
Anyone in #Crypto should read this thread and remember, if you have a token you have a responsibility to your customers. Don't get it twisted and don't let bad exchanges continue to drag the ecosystem to the ground. #Blockchain #Bitcoin #Ethereum— Rahul Sood 🦄 (@rahulsood) November 29, 2018
Sool concludes by saying he will write a medium post about this as well, and calling for other “legit” blockchain companies to follow his lead and speak up. His tweets garnered mixed reactions from the community:
Shitcoins gets delisted— Hun (@th3kill3r666) November 30, 2018
You need to maintain volume on NYSE, have liquidity providers, and market makers. NYSE has listing fees to. Try to IPO. Welcome to capital markets, competing is not free— DollarHegemony (@DollarHegemony) November 30, 2018
Nice thread. Appreciated👍👌— hamz฿ (@hamz1x) November 29, 2018
Super great insight. This kind of information sharing also helps little and big market players.— Stephan T (@tzoutzourakis) November 29, 2018
These kind of tweets I appreciate.
Looking forward to the Medium post. Please, if poss, talk about your experience with other exchange like #binance