Kraken is causing an uproar by not keeping his promise to list the shiba inu (SHIB) for a few likes. The SHIB community expresses massively its indignation on Twitter.
Kraken and shiba inu listing: a simple bluff for more likes?
On November 1, 2021, Kraken announced in a tweet that its product manager, Brian Hoffman, would list the SHIB on its platform, if the publication received 2,000 likes on November 2, 2021. Although this condition was quickly met, it appears that the exchange has so far failed to deliver on its promise. As of November 8, 2021, shiba inu has not yet entered Kraken.
Kraken simply stated that the platform had “heard loud and clear!” from the SHIB community, but that the exchange still had “work to do as we move forward with our listing review process.” Kraken did not give a date as to when SHIB might be listed.
Kraken’s departure, accusations of manipulation: the anger of the SHIB community
Kraken’s broken promise has unsurprisingly angered the SHIB community on Twitter. Some like george (@Art_Vandelayyy) say they will leave the exchange, disappointed by the exchange’s attitude:
“I’ve been using @krakenfx since 2016, and now you’ve lost me as a customer. I’ll take my funds back to @coinbase, at least they don’t tweet empty promises and lie to their investors.”
Will Weiskopf (@will_weiskopf) even mentions market manipulation through this announcement effect, going so far as to raise the possibility of insider trading if exchange employees bought and sold SHIB:
“Be careful, Kraken. Saying you’re going to quote an asset and not doing so after the price moves could be considered market manipulation. Especially when the effect of the quote is widely known. Even worse, if Kraken employees bought or sold tokens knowing this… insider trading?”
The SHIB price is quite sensitive to tweets from major players in the cryptosphere like Kraken, announcements that can cause either runs to buy the crypto or major sales of it. The shiba inu did experience a flash crash following Elon Musk’s tweet indicating that he owned none.