Binance co-founder Yi He has spoken to recent speculation about listing fees on the platform, assuring the community that it operates with transparent policies.<\/p>\n
The address came in response to allegations by Moonrock Capital CEO Simon Dedic of costly listing fees on Binance.<\/p>\n
On October 31, Dedic took to X with a claim<\/a> that Binance demanded 15% of a project\u2019s token supply for a listing. He used the example of an unnamed tier 1 project that raised nearly a billion, with the crypto exchange giving them a listing offer that included parting with between $50 million and $100 million for the service.<\/p>\n Additionally, Dedic asserted that the listing offer came at the tail end of a more than year-long due diligence process.\u00a0This claim sparked debate, with some observers like Mat Milbury arguing that such demands may harm projects rather than benefit them.<\/p>\n However, Binance supporters countered these criticisms, with co-founder Yi clarifying<\/a> that the exchange\u2019s asset listing processes prioritize rigorous screening over the funds associated with a project, regardless of amount:<\/p>\n \u201cIf a project does not pass the screening process, it cannot be listed on Binance regardless of the amount of money or tokens involved.\u201d<\/p>\n Dismissing the outcry as fear-mongering, or what is commonly known in crypto circles as FUD, short for fear, uncertainty, and doubt, Yi asked community members to do their own research and analyze Binance\u2019s listings for themselves to see if there was indeed a 20% requirement for tokens as alleged by Dedic.<\/p>\n She also pointed out that her company\u2019s listing fees and token distribution policies are clearly documented, with the aim of protecting both projects and the platform\u2019s users.<\/p>\n Another exchange backer reiterated this point, suggesting that listing fees on Binance are meant to prevent \u201cworthless\u201d tokens from reaching unsuspecting investors. This implies that the crypto platform\u2019s exhaustive listing criteria are key to maintaining a trustworthy environment.<\/p>\n Coinbase CEO Brian Armstrong contributed to the debate by promoting<\/a> the Coinbase Asset Hub, stating that projects can be listed on the platform at no cost.<\/p>\n This elicited a response from Sonic Labs co-founder Andre Cronje, who disputed<\/a> Armstrong\u2019s claim. The serial founder stated that unlike Binance, which did not charge his projects anything to be listed, Coinbase had allegedly asked them for huge sums, including $300 million, $50 million, $30 million, and most recently, $60 million.<\/p>\n Tron\u2019s Justin Sun also added his voice to the discourse, reinforcing Cronje\u2019s statement. The newly minted Prime Minister of the self-proclaimed micronation of Liberland shared a similar experience with Coinbase, alleging<\/a> that it demanded Bitcoin (BTC) and TRX deposits amounting to $250 million and $80 million, respectively, to boost their performance metrics. In contrast, Sun claimed that Binance charged them nothing for the same service.<\/p>\n The post Binance Co-Founder Clarifies Asset Listing Policies, Dispels FUD<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Binance co-founder Yi He has spoken to recent speculation about listing fees on the platform, assuring the community that it operates with transparent policies. The address came in response to allegations by Moonrock Capital CEO Simon Dedic of costly listing fees on Binance. Binance Accused of Charging Exorbitant Fees for Crypto Listing On October 31, […]<\/p>\n","protected":false},"author":0,"featured_media":17844,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-17843","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17843"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=17843"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/17843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/17844"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=17843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=17843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=17843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What About Coinbase?<\/h2>\n