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.
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.
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