XRP News Today: Shiba Inu Team Defends BONE Delisting, Emphasizes DeFi Focus Amid 18.95% Weekly Loss

The Shiba Inu team has responded to the recent delisting of their Bone ShibaSwap (BONE) token from two centralized exchanges, OKX and ONUS. The delisting, which occurred earlier this week, has sparked concerns among holders who saw the value of their BONE holdings plummet. OKX suspended BONE deposits on June 30, while ONUS halted BONE purchases and swaps on July 1.

In response to the delisting, Lucie, the marketing specialist for Shiba Inu, took to X to address growing concerns. She described the centralized exchanges as "manipulative," asserting that the delisting had nothing to do with BONE’s performance. Lucie emphasized that BONE isn’t even among the tokens with the lowest trading volumes on either platform. She also stated that she would not “chase” exchanges to support Shiba Inu ecosystem tokens, highlighting the team's focus on building within the decentralized finance (DeFi) space.

Lucie expressed her belief in DeFi, noting that the Shiba Inu team has been focused on building within this space, which doesn’t require invasive identity checks, including KYC or even, as she sarcastically remarked, “blood samples.” Despite the delisting, Lucie emphasized that the team is not backing down and will focus on building out the ecosystem. She further took a swipe at centralized exchanges, claiming they usually list tokens that offer ‘big money.” According to her, this practice enables them to continue promoting low-effort projects that often disappear within a short time.

Lucie also pointed to the failures of once-prominent centralized exchanges like WazirX, FTX, and Hotbit. Although they appeared solid at first, they were eventually exposed or exploited, serving as cautionary examples against overreliance on centralized platforms. She noted that other major assets, including SHIB and XRP, have faced similar challenges. In particular, she recalled how several U.S.-based exchanges delisted XRP after the SEC filed a lawsuit against Ripple. However, these exchanges have since relisted XRP after a federal court ruled that its secondary market sales do not violate federal securities laws.

Currently, BONE is down 18.95% over the past seven days, following its delisting from ONUS and OKX. However, it has recovered some of its losses in the past day, with its price soaring 9.5% to $0.1941. Meanwhile, BONE remains available for trading on other centralized exchanges, such as Gate.io and HTX, which have seen over $2 million in volume in the past 24 hours.

This move by the Shiba Inu team underscores the ongoing debate within the cryptocurrency community about the role of centralized exchanges and the potential for market manipulation. The team's response aims to rally support and encourage the community to embrace decentralized solutions, which they believe offer greater transparency and fairness. Lucie's comments highlight the team's commitment to DeFi and their belief that centralized exchanges often prioritize profit over the well-being of the community. The Shiba Inu team's stance on decentralized finance and their criticism of centralized exchanges reflect a broader trend in the cryptocurrency world, where many projects are shifting towards decentralized solutions to avoid the pitfalls of centralized control.