Main navigation

'Simply Not True': TRON's Justin Sun Debunks Binance Listing Rumors

Advertisement
Mon, 4/11/2024 - 8:50
'Simply Not True': TRON's Justin Sun Debunks Binance Listing Rumors
Cover image via U.Today
Read U.TODAY on
Google News

A hot new debate has emerged in the crypto community regarding alleged listing fees on centralized exchanges - specifically Binance and Coinbase. It all began with one of the venture capitalists sharing the details of a conversation with a high-end project that reportedly received a listing offer requesting 15% of the project’s total token supply, an amount potentially worth up to $100 million. The venture capitalist claimed that such demands are unaffordable for most projects and are the main reason why prices go down after listings.

Related

Coinbase CEO Brian Armstrong responded, highlighting that Coinbase listings are free, inviting projects to apply through the exchange. However, this statement faced pushback from Andre Cronje, founder of Fantom, who disputed the claim, revealing Coinbase had asked Fantom for payments ranging from $30 million to $300 million over the years. 

Binance, on the other hand, according to Cronje,  had never charged Fantom for a listing, contrasting his experience with the exchange with Armstrong’s position. 

Advertisement

Cronje’s stance gained backing from TRON founder Justin Sun, who reported similar issues with Coinbase, alleging that they required a substantial amount of TRX tokens and a $250 million BTC deposit in Coinbase Custody for performance purposes. Sun emphasized that Binance had never imposed such fees on TRON, contrasting Coinbase's approach.

Binance speaks

Finally, following these revelations, Binance's He Yi, cofounder and chief customer service officer, provided clarification on the exchange's listing process. According to Yi, Binance's listing criteria are strictly enforced, with no amount of money or tokens able to override their screening requirements.

Related

She suggested that speculation and rumors about Binance's listing fees are unfounded and that business competition can often give rise to misunderstandings.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD