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