Xu Mingxing: Considering taking off the shelf of CELT, no token can be promoted by using the relationship with OKX

According to reports, in response to the sharp rise and fall of Celt on the OKX trading platform and the KOL order call event, Xu Mingxing tweeted that this really disappointed us. The team will review our listing criteria to prevent similar junk tokens from listing, and consider taking Celt off the shelf. OKX is a neutral exchange. Except OKB and OKT, no tokens can be promoted by using the relationship with OKX.

Interpretation of this information:

The message is about an incident involving a cryptocurrency called Celt, which experienced a sudden surge and drop in value while being traded on a platform called OKX. The incident also involved an event where someone called for others to buy and hold Celt, which may have contributed to its price volatility. Xu Mingxing, a figure associated with OKX, tweeted that he was disappointed by what happened and that the team would review their listing criteria to prevent similar tokens from being listed. He also suggested that they might remove Celt from the platform.

The mention of a “junk token” implies that Celt may not have been a legitimate or valuable cryptocurrency, but rather a speculative investment with little to no real-world use or backing. The sudden spike and drop in value could have been due to market manipulation or speculation. The fact that someone called for others to buy and hold Celt suggests that there may have been an attempt to pump up its price artificially.

Xu Mingxing’s tweet suggests that OKX takes its responsibilities as an exchange seriously and wants to ensure that only legitimate and reputable cryptocurrencies are listed on the platform. By reviewing their listing criteria, they may be able to identify potential problematic tokens and prevent them from being listed in the first place. Removing Celt from the platform would send a strong message to other cryptocurrencies that OKX is committed to quality and transparency.

The mention of OKB and OKT being the only tokens that can be promoted using the OKX relationship suggests that OKX is trying to maintain a level playing field and not give preferential treatment to any particular cryptocurrencies. By not allowing other tokens to use their relationship with OKX for promotional purposes, they are ensuring that all tokens are judged on their own merits and the quality of their technology and team.