Gifto Team Issues 1.2 Billion GFT After Binance Delists

The Gifto team issued 1.2 billion GFT tokens after Binance announced the delisting of the token on November 26, 2024. The act of issuing a large number of tokens has led to a sharp decline in the value of GFT, dropping nearly 70% in a short period of time. The reason for this delisting by Binance is that the projects no longer meet the exchange's trading criteria, in order to protect users and maintain quality standards for listed assets.

According to the announcement from Binance, all trading pairs related to GFT will be officially delisted at 10:00 AM on December 10, 2024 (UTC). After the announcement, the price of GFT fell sharply, and the news of the new GFT token issuance attracted strong criticism from the investor community, with many suspecting that this move was almost like an "exit scam".

Currently, the Gifto team remains silent and has not provided any explanation for this token issuance or the decrease in the value of GFT.