The controversial cryptocurrency figure, John McAfee, announced that he has created a new alliance with CoinBene. With it, the intention is to fight against corruption in the cryptocurrency market. This decision has been taken in order to increase the pressure on the crypto exchange HitBTC.
McAfee Increases Pressure on HitBTC
CoinBene and McAfee joined forces to fight against corruption in the crypto space and against rival exchange HitBTC. The new partnership will be known as the McAfee Alliance.
Earlier this year, McAfee attacked HitBTC saying that it increased the suffering of millions of poor people. After this, he called the community to boycott them.
On June 30, he said about HitBTC:
“I fired the first shot in the war that must be fought. Our exchanges are connected to our banks and our governments. To take down the entire system, we must first take down our exchanges. Distributed exchanges are coming. I have singled out @hitbtc because they are the worst.”
On Reddit, several users have been attacking HitBTC for different reasons. For example, some of the complaints are related to airdrops no received, offline wallets, sudden delisting of some tokens, problems to withdraw funds, etc. This shows that the exchange is having troubles to deal with ‘easy-to-solve’ issues.
For example, the team behind the Apollo project said that they were going to refuse being listed on HitBTC. The decision was taken due to an ‘overwhelming number of fraud allegations’ against the exchange.
On September 7, McAfee announced that Apollo was boycotting HitBTC. This has created an important precedent in the virtual currency world. Nonetheless, every time a project wants to list its virtual currency at the platform, they need to pay $500,000 dollars. At the moment, the exchange has more than 780 different trading pairs.
HitBTC is currently the 7th most important virtual currency exchange in the market. In the last 24 hours, it registered a trading volume of $236 million dollars.
Coinbene, instead, is the 38th virtual currency exchange by trading volume, according to CoinMarketCap. They had a trading volume of $29 million dollars in the last 24 hours. If it wants to be a strong competitor against HitBTC it will have to work very hard and receive help from McAfee.
Carlos is an international relations’ analyst specializing in cryptocurrencies and blockchain technology. Since 2017, Carlos has written extensively for UseTheBitcoin and other leading cryptocurrency sites; with over 2,000 articles published.