One of the largest crypto exchange Binance seems to be suspicious about the acquisition of information that was necessary to build their decentralized exchange (DEX) and in today’s crypto news we find out why that is the case.
Binance already launched DEX but new evidence seems to be emerging that shows Bitcoin misusing their power to deceive crypto projects into sharing valuable information about themselves to get listed on the exchange. Later, the projects would be ignored and their applications were forgotten.
According to Tyler Swope from the YouTube Channel Chico Crypto, this happened to Blocknet which is a second layer blockchain interoperability protocol. This was one of the projects that aimed to be listed on Binance. Blocknet applied to be listed on Binance last year in August after they submitted their online application and followed all of the usual proceedings.
After that, Blocknet didn’t get an answer from Binance for more than a month. For this reason, Blocknet reviewed all of the questions and found out that they were extremely intrusive.
The news comes as a surprise since Binance has managed to successfully build a high reputation for being trustworthy and ethical and if the accusations turn out to be true, this can be a red sign for many future projects that hope to be listed on Binance and share data.
Binance announced that they are building the DEX before even Blocknet contacted them for the first time, so it is still unclear why Blocknet contacted Binance in the first place and decided to disclose confidential technical data.
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