Ponzi

2024

<p class="is-style-lead">Bitget is implementing new guidelines by introducing mandatory legal reviews, stricter tokenomics analysis, and comprehensive background checks.</p>
<p>According to a Bitget press release shared with crypto.news, the company has rolled out these stringent criteria for listing tokens to shield users from high-risk projects and <a href="https://crypto.news/pig-butchering-crypto-scams-made-over-75b-university-of-texas-professor-reveals/" target="_blank" rel="noopener noreferrer nofollow">potential exit scams</a>.</p>
<p>Under the new rules, every project looking to list on <a href="https://crypto.news/tag/bitget/" target="_blank" rel="noopener noreferrer nofollow">Bitget</a> must pass a rigorous assessment covering multiple aspects. A comprehensive legal review ensures the project’s code quality, security measures, and regulatory compliance.</p>
<p>You might also like: <a rel="noopener noreferrer nofollow" href="https://crypto.news/ripple-debuts-crypto-custody-solutions-to-support-banks-in-managing-crypto-report/"> Ripple debuts crypto custody solutions to support banks in managing crypto: report </a></p>
<h2 class="wp-block-heading" id="bitget-s-new-listing-criteria">Bitget’s new listing criteria&nbsp;</h2>
<p>A key focus of the updated criteria is <a href="https://crypto.news/what-is-tokenomics/" target="_blank" rel="noopener noreferrer nofollow">tokenomics</a>. Bitget will now conduct detailed analyses of token supply, distribution, and the project’s fully diluted valuation.&nbsp;</p>
<p>Projects with an FDV exceeding 20 times the amount raised in their funding rounds will raise red flags, signaling potentially inflated valuations. For example, a project that raises $5 million should not have an FDV over $100 million, ensuring valuations are aligned with market expectations.</p>
<p>In addition to this, Bitget will scrutinize the token unlock schedules, warning that rushed unlock periods under two years could indicate a lack of long-term commitment from the project team.&nbsp;This could lead to early sell pressure, jeopardizing <a href="https://crypto.news/what-is-tokenization-and-how-does-it-work/" target="_blank" rel="noopener noreferrer nofollow">token stability</a>.</p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/Bitget?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Bitget</a> is introducing stricter standards for token listings to protect users from scam projects. 🛡️<br><br>Find out how we’re safeguarding our users ⤵️<a rel="noopener noreferrer nofollow" href="https://t.co/a6ZyfVXqaM" target="_blank">https://t.co/a6ZyfVXqaM</a></p>— Bitget (@bitgetglobal) <a href="https://twitter.com/bitgetglobal/status/1844321938086506827?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 10, 2024</a>
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<p>The platform will also evaluate the development team’s background and funding sources. Projects supported by established institutions are more likely to pass the listing process, while those backed by lesser-known entities will face additional scrutiny.</p>
<p>Any connections to previous fraud or unethical practices, such as rug pulls or Ponzi schemes, will immediately disqualify a project from listing. Existing tokens already traded on other platforms will face even deeper evaluation, including analyses of on-chain data to assess their economic health.&nbsp;</p>
<p>Tokens showing significant disparity between trading volume and FDV will be flagged for potential price manipulation.</p>
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 <p>“Projects looking to list a token on Bitget must undergo a rigorous legal and technical review to assess its code quality, security measures, and regulatory compliance, in accordance with Bitget’s listing criteria. This is an important step to protect our users from projects with high risks. Those that do not meet the standards will not be able to get listed on Bitget.”&nbsp;</p>
 <p>Hon Ng – Chief Legal Officer at Bitget.</p>
</blockquote>

Bitget tightens token listing criteria to avoid exit scams

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