Since the launch of the 1st ever cryptocurrency known as Bitcoin (BTC), the entire world’s economy seems to have been stirred up as after the introduction of the internet, it was the first time that the giants of the economic world had their jaws dropped after seeing the development, method and mechanism of the cryptocurrency world. A system that was new and unimaginable at that time was truly shocking for the entire world.
With the passage of time, there have been more than 1500 cryptocurrencies introduced and while there are many currencies making progress and providing a variety of opportunities to their users, there are some that have been hyped and saw a swift increase only to drop dead in a matter of days and months. Looking at this downfall, the entire cryptocurrency community decided to take an initiative where the major, renowned and respected cryptocurrencies, as well as crypto-exchanges, would be able to list a new cryptocurrency as to whether it can be trusted or not.
Now, what is considered to be the biggest scam in the cryptocurrency industry in the year 2020 is when Chef Nomi (founder of SUSHI) left dust in the eyes of the SUSHI users and cashed out on $27 million worth of SUSHI coins. This not only created an environment of uncertainty for the SUSHI users but in the entire crypto-economy where even the biggest names such as Bitcoin & Ethereum saw the prices of their currencies taking a fall. This was all because of the people cashing out their coins and investments from the cryptocurrency platforms due to the act from Chef Nomi.
This is where Binance has been held responsible and accountable for listing SUSHI as a credibly and trustworthy cryptocurrency with the potential to grow bigger. Although Binance accounted for SUSHI to be raw and unaudited at the beginning, they still went ahead and listed them as a trusted cryptocurrency for investment. Even a rival crypto-exchange (KuCoin) stated that they voted against the listing of SUSHI and tried discussing it with Binance, which they completely ignored and went on to list it.