Leading cryptocurrency exchange Bitget has announced that it will delist TOKEN, the native asset of tokenization platform TokenFi, launched by the memecoin project Floki Inu (FLOKI). The crypto exchange has made serious allegations against the Floki Inu team through the project.
Bitget to Delist TOKEN
Bitget, a cryptocurrency exchange, has announced that it will delist TOKEN, the native asset of TokenFi, a tokenization platform launched by the popular memecoin project Floki Inu. The delisting process will take place on November 1st at 00:00, and deposit and trading services for TOKEN will be suspended, and all pending orders will be canceled.
Furthermore, Bitget stated that a buyback program will be implemented for the altcoin to prevent any losses caused by the delisting process. According to the program, a buyback will be made based on the highest closing price of TOKEN (0.00605002 <a href="https://en.coin-turk.com/new-record-in-market-value-for-usdt-the-leading-stablecoin/">USDT) within 5 days (from October 27th to October 31st), during which the altcoin was traded on Bitget, before November 7th, 2023.
Despite the delisting announcement, TOKEN is trading at $0.0195 with an increase of over 20% in the last 24 hours. The highest and lowest levels of the altcoin in the last 24 hours were recorded at $0.01846 and $0.01165, respectively.
Serious Allegations Against Floki Inu Team
In addition, Bitget has made serious allegations against the Floki Inu team in the delisting announcement. The cryptocurrency exchange accused the Floki Inu team of manipulating the price of the altcoin.
The allegations directed by the cryptocurrency exchange include the manipulation of the altcoin's market price by deliberately squeezing liquidity, lack of transparency in the token economy, and undisclosed release cycles.