{"id":2142,"date":"2024-11-05T04:34:55","date_gmt":"2024-11-05T04:34:55","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=2142"},"modified":"2024-11-05T04:34:55","modified_gmt":"2024-11-05T04:34:55","slug":"binance-founder-cz-responds-to-100-million-listing-fee-controversy","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=2142","title":{"rendered":"Binance Founder CZ Responds To $100 Million Listing Fee Controversy"},"content":{"rendered":"
\n

Over the weekend, Binance and Coinbase were accused of asking for millionaire fees for token listing, igniting a discussion about listing requirements, exchange rivalry, and FUD (fear, uncertainty, and doubt). Several industry figures weighed in on the matter, including Justin Sun, Brian Armstrong, and Changpeng Zhao, who denied the claims on Monday.<\/p>\n

Binance Vs. Coinbase Listing Fee Controversy<\/h2>\n

Two of the world\u2019s biggest centralized exchanges (CEXs), Binance and Coinbase<\/a>, faced backlash over allegations of millionaire fee requirements for token listing. On Thursday, Moonrock Capital\u2019s CEO, Simon Dedic, shared his concerns regarding some CEXs\u2019 listing requirements.<\/p>\n

In an X post, Dedic explained that he recently spoke to a Tier 1 project that raised nearly nine figures. The project\u2019s team detailed that they received a listing offer from Binance after \u201cwasting over a year of due diligence\u201d with the exchange.<\/p>\n

Nonetheless, the crypto exchange<\/a> allegedly requested 15% of the token\u2019s supply to secure the listing. Dedic expressed his concern about \u201cpaying $50-100M just for a CEX listing,\u201d as it would be unaffordable for most projects, and the donated token supply is \u201cthe biggest reason for bleeding charts.\u201d<\/p>\n

\"Binance\"<\/p>\n

Many community members discussed whether the listing fee requirement needed to change. One user argued that if a project wanted to be distributed in a CEX, they should \u201chave to pay for it.\u201d<\/p>\n

However, controversy arose when Coinbase\u2019s co-founder and CEO Brian Armstrong replied to Dedic\u2019s X post. Armstrong seemingly took a jab at Binance by stating that asset listings on Coinbase were free.<\/p>\n

Sonic Labs\u2019 founder, Andre Cronje, refuted<\/a> Armstrong\u2019s claim and revealed that the exchange allegedly asked the company for a listing fee several times. Per the post, Coinbase requested up to $300 million from Sonic Labs, while Binance charged the project $0.<\/p>\n

Backing Cronje, Tron\u2019s founder Justin Sun shared<\/a> a similar story. Sun declared that Coinbase\u2019s claims were \u201csimply not true,\u201d as the CEX had required them to pay 500 million TRX, worth around $80 million, and \u201cdemanded a $250 million BTC deposit in Coinbase Custody to boost their performance.\u201d<\/p>\n

Sun\u2019s remarks fueled the ongoing discussion, with many users questioning his claim. Others suggested that his experience with Binance might differ from other projects as the listing happened years ago.<\/p>\n

Binance Co-Founders Deny The Allegations<\/h2>\n

On Monday, Changpeng Zhao, also known as CZ, thanked Sun for his support. The former CEO noted<\/a> the importance of the validation from someone who runs two competing exchanges. However, he expressed his concern about the \u201cquote attacks\u201d within the industry.<\/p>\n

\"Binance\"<\/p>\n

Zhao<\/a> urged his peers to reduce these attacks and asked teams to work on their projects to secure a listing instead of focusing on the exchanges. Moreover, he highlighted that \u201cBitcoin never paid any listing fees.\u201d Sun agreed with CZ, stating, \u201cFocusing on building projects and Bitcoin is what truly matters.\u201d<\/p>\n

Yi He, co-founder and Chief Customer Service Officer\u00a0at Binance, also denied<\/a> the allegations, calling them FUD:<\/p>\n

\n

FUD will never go away, but it makes us stronger. Gossip is easy to get traffic, and business competition is always full of dark sides; When you understand the rules of how the world works, you will no longer be easily swayed by rumors, and you will have the ability to think independently.<\/p>\n<\/blockquote>\n

She explained that a project won\u2019t get listed if it doesn\u2019t pass the screening process, and the exchange doesn\u2019t charge a \u201cso-called 20%\u201d fee. Yi He also remarked that the exchange\u2019s listing rules are \u201ctransparent and clear,\u201d including the airdrop rules for Binance\u2019s Launchpool. Ultimately, she urged the community to do their research when controversy sparks.<\/p>\n

\"BNB,<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Over the weekend, Binance and Coinbase were accused of asking for millionaire fees for token listing, igniting a discussion about listing requirements, exchange rivalry, and FUD (fear, uncertainty, and doubt). Several industry figures weighed in on the matter, including Justin Sun, Brian Armstrong, and Changpeng Zhao, who denied the claims on Monday. Binance Vs. Coinbase […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-2142","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2142","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2142"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/2142\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2142"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2142"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2142"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}