Crypto Exchange Kraken Fails to List SHIB, Despite Promise

The San Francisco-based exchange may have underestimated the power of SHIBArmy.

AccessTimeIconNov 3, 2021 at 4:09 p.m. UTC
Updated Nov 3, 2021 at 4:50 p.m. UTC

Muyao was a markets reporter at CoinDesk.

Crypto exchange Kraken has failed to fulfill a promise it made on Twitter to list popular meme token shiba inu (SHIB) once the idea had received enough “likes,” upsetting its large community of supporters.

The San Francisco-based crypto exchange tweeted on Monday that Brian Hoffman, its crypto platform product lead, said Kraken would list shiba inu on Tuesday if the tweet received 2,000 “likes.” At press time, the tweet had received more than 77,000 “likes.”

However, as of Wednesday, SHIB is still not available to buy and sell on Kraken, and in a follow-up tweet, the exchange wrote that while they’ve heard SHIB’s supporters “loud and clear,” there is “more work” for them to do as they move through their listing review process. Kraken did not further clarify when or if it would list SHIB.

CoinDesk - Unknown

Kraken's website. Source: Kraken.

When reached for comment, Kraken said it had nothing to add beyond what it had already tweeted.

The event has triggered plenty of anger on social media, with Twitter user @Rogersnith10 tweeting: “Don’t tweet false promises in future it really doesn’t give any investors confidence in your platform, you have lost me as lifetime customer now.” The tweet has received almost 1,400 “likes.”

While SHIB’s trading volume is mostly concentrated on decentralized finance (DeFi) trading, it has been extremely popular among retail investors on major centralized exchanges. At the time of writing, Binance, Coinbase and OKEx are the top three exchanges with the most SHIB trading volume, according to CoinGecko.

SHIB was recently changing hands at $0.00006433, down 6.5% in the past 24 hours.

UPDATE (Nov. 3, 16:21 UTC): Added response from Kraken.



Read more about

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

CoinDesk - Unknown

Muyao was a markets reporter at CoinDesk.

CoinDesk - Unknown

Muyao was a markets reporter at CoinDesk.