AEVO, a recently launched cryptocurrency, has seen its value plummet dramatically, falling from a high of $3.7 at launch to just $0.44.Such a significant drop in the value of this coin has raised eyebrows among the crypto fraternity regarding the credibility of some tokens listed on these exchanges and their operations. The founder of the OKX exchange Star Xu has engaged these issues publicly noting that increased responsibility and supervision is required to shield investors from questionable projects.
The OKX Founder’s Opinion
In addition, Xu explained that when exchanges lack supervision, they end up condoning such practices, contributing to users’ exploitation. His comments highlight the increasing recognition within the industry that a higher standard of listing requirements as well as constant assessment of projects is required to preserve the credibility of the market.
The Downward Spiral of AEVO
The case with AEVO is, thus, a perfect illustration of all the obstacles that the industry of cryptocurrencies has to face. Since there is no global supervising authority that regulates the token listings and divestitures, it is up to each exchange to enforce a tighter listing policy.
