Bitthumb's Controversial Delisting of XENT Amidst Legal Dispute

Bitthumb's Controversial Delisting of XENT Amidst Legal Dispute

Amidst the ongoing legal battle between Bitthumb and XENT (XENT) over the controversial delisting, the XENT team has stated through a community notice that "the foundation is doing its best to clarify the project's direction during the trial process." They added, "We will promptly notify you if there are any important issues, and we will never be irresponsible for the project." Previously, Bitthumb designated XENT as an investment cautious asset on April 29, 2024. After extending the cautious asset designation, they announced their decision to terminate trading support on June 21. This move by Bitthumb sparked outrage within the XENT community, who accused the exchange of arbitrary delisting and manipulating the market. The XENT team has since filed a lawsuit against Bitthumb, alleging that the delisting was unlawful and caused significant financial losses to investors. The ongoing legal battle highlights the importance of clear and transparent communication between exchanges and project teams. It also raises concerns about the potential for exchanges to abuse their power and manipulate the market for their own benefit. As the legal proceedings continue, it remains to be seen how the court will rule on the matter. The outcome of the case will have significant implications for both Bitthumb and the wider cryptocurrency industry.