Binance Accused of Demanding Token Fees for Listings, Co-Founder Denies Allegations

The crypto community was stirred when Simon, CEO of Moonrock Capital, claimed that Binance requested 15% of a project's total token supply for a listing.

This raised questions about the transparency of listing practices at major exchanges. In contrast, Coinbase CEO Brian Armstrong stated that his platform charges no listing fees.

Andre Cronje, co-founder of Sonic Labs, countered Simon’s assertion, stating that Binance did not charge fees for his project, while mentioning that Coinbase had asked for $60 million, potentially for the FTM token. These conflicting claims underscore the complexity and lack of clarity in crypto exchange listing processes.

Binance claims to follow a rigorous evaluation procedure for listings, but Simon’s statement has prompted concerns about possible hidden conditions. Meanwhile, Armstrong’s claim of a fee-free policy at Coinbase contradicts Cronje’s allegations about high fees.

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Understanding these dynamics is vital for crypto projects, as both official policies and informal practices can significantly impact their strategies. In light of the controversy, Binance co-founder Yi He clarified that the exchange does not require a percentage of tokens or a fixed fee for listings. Since 2018, Binance’s policy has ensured transparency, stating that all listing fees are donated to charity, with project teams proposing their own “donation” amounts without a minimum requirement.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.