Modular DeFi oracle RedStone has officially denied circulating rumors regarding a partnership with Web3Port and Whisper, a market-making firm. In a public statement, RedStone clarified that neither entity has any influence on its market activities, nor have they ever provided services to the company.
RedStone Responds to False Claims
RedStone addressed the misinformation in an official March 20, 2025 announcement, emphasizing that any claims suggesting a partnership with Web3Port and Whisper were entirely false and made without their consent or knowledge. The company demanded the removal of these misleading statements, though some references may still be circulating online.
“We want to clarify that RedStone does not work with these parties, and any partnership announcements were false.”
— RedStone Oracles (@redstone_defi), March 20, 2025
Concerns Over Association with Controversial Entities
RedStone’s strong stance appears to stem from concerns about the reputational risks of being linked to Web3Port and Whisper. Both entities have reportedly been tied to controversies surrounding trading volume manipulation and price stability violations on Binance.
Although Binance has not publicly disclosed the identity of the market maker involved in these violations, industry insider AB Kuai Dong suggested potential ties to May Liu, who is known to run Whisper and incubate Web3 projects through Web3Port.
RedStone’s Verified Market Maker Partnerships
RedStone has emphasized that it exclusively partners with reputable market makers that meet its strict vetting process. The company collaborates with:
- Keyrock – A leading liquidity provider for major crypto exchanges.
- Auros – A high-frequency trading firm and global liquidity provider with a reported $1.5 trillion in annual trading volume.
Both Keyrock and Auros are official partners under RedStone’s Guard Program, which enforces rigorous legal checks and performance evaluations to ensure only top-tier firms handle market-making activities.
RED Token Performance Remains Strong
Despite the false rumors, RedStone’s native token (RED) has seen positive price action:
- 4% increase in the last 24 hours
- 10% gain over the past week
- 74% surge over the past month
This suggests that either the rumors had little impact on investor confidence, or RedStone acted swiftly to clarify the situation before it could affect market sentiment.
By addressing these rumors head-on, RedStone has reinforced its commitment to transparency and regulatory compliance, further strengthening its position as a trusted oracle provider in the DeFi ecosystem.
