Over the weekend, Binance and Coinbase were accused of asking millionaire fees to list their tokens, sparking a debate about listing requirements, exchange competition, and FUD (fear, uncertainty, and doubt). Several industry figures have commented on the matter, including Justin Sun, Brian Armstrong, and Changpeng Zhao, who denied the allegations on Monday.
Binance Vs. Controversy over Coinbase listing fees
Two of the world’s largest centralized exchanges (CEXs), Binance and Coinbase, have faced backlash over allegations of millionaire fee requirements for listing tokens. On Thursday, Simon Dedek, CEO of Moonrock Capital, shared his concerns about the listing requirements of some CEX exchanges.
In an X post, Didek explained that he recently spoke about a Tier 1 project that raised nearly nine figures. The project team explained that they received a listing offer from Binance after “wasting over a year of due diligence” with the exchange.
However, the cryptocurrency exchange allegedly requested 15% of the token supply to secure the listing. Didek expressed concern about “paying only $50-$100 million for a CEX listing,” as it would not be affordable for most projects, and the supply of donated tokens is “the biggest cause of chart bleeding.”
Moonrock Capital's CEO raises concerns about listing requirements. Source: Simon on X
Many community members discussed whether listing fee requirements need to change. One user said that if a project wants to be distributed on CEX, it has to “pay for it.”
However, controversy arose when Coinbase co-founder and CEO Brian Armstrong responded to Dedic
Sonic Labs founder Andre Cronje, refute Armstrong’s claim revealed that the stock exchange had asked the company for listing fees several times. According to this post, Coinbase requested up to $300 million from Sonic Labs, while Binance charged $0 in fees for the project.
Support Cronje, TRON founder Justin Sun subscriber Similar story. Sun declared that Coinbase’s claims were “simply untrue,” as the CEX exchange had asked them to pay 500 million TRX, worth about $80 million, and “demanded that $250 million BTC be deposited into Coinbase Custody to boost its performance.”
Sun’s statements sparked debate, with many users questioning his claim. Others suggested that his experience with Binance may differ from other projects where the listing occurred years ago.
The Binance founders deny the allegations
On Monday, Changping Zhao, also known as CZ, thanked Son for his support. Former CEO male The importance of validating the person running two competing exchanges. However, he expressed concern about “price attacks” within the industry.
Zhao responds to listing fee allegations. Source: CZ on X
Zhao urged his peers to limit such attacks and asked the teams to work on their projects to secure the listing instead of focusing on the exchanges. Furthermore, he highlighted that “Bitcoin has never paid any listing fees.” Sun agreed with CZ, saying: “Focusing on building projects and Bitcoin is what really matters.”
Yi He, also the co-founder and chief customer service officer at Binance to reject The allegations, calling it FUD:
FUD will never go away, but it makes us stronger. It is easy to attract gossip, and business competition is always full of dark sides; When you understand the rules that govern how the world works, you will not be easily influenced by rumors, and you will have the ability to think independently.
She explained that the project will not be listed if it does not pass the screening process, and the exchange does not charge a “so-called 20%” fee. Ye also noted that the exchange’s listing rules are “transparent and clear,” including the airdrop rules for Binance’s Launchpool platform. Finally, she urged the community to do their research when controversy flares up.
Binance Coin (BNB) trades at $560 in the three-day chart. Source: BNBUSDT on TradingView
Featured image from Unsplash.com, chart from TradingView.com