In a masterstroke of linguistic acrobatics, Binance has deftly pirouetted away from the accusations of profiting through token listings, branding them as “false and defamatory” while waving a legal sword at Limitless Labs’ CEO. One might almost imagine the exchange playing chess with the industry, though the pawns are just tokens and the board is a courtroom.
The exchange, which reigns supreme in the cryptocurrency kingdom, insists its listing deposits are “refundable” (a term that now dances with irony) and reserves the right to sue. This, of course, is the same Binance that once claimed to be a humble servant of the blockchain, now donning a cape of legal bravado. 🦸♂️
On X (formerly Twitter, now a relic of the past), Binance responded to the allegations flung by CJ Hetherington, CEO of Limitless Labs, who boldly claimed the exchange demands 8% of token supplies and mountains of cash deposits. One wonders if Mr. Hetherington’s sources were whispering in the digital corridors or merely dreaming. 🤔
Source -X
Hetherington’s post, a veritable Shakespearean drama in 280 characters, alleged Binance’s “requirements” included token allocations and deposits so vast they could fund a small nation. Or perhaps a moderately sized crypto airdrop. 🌍
Limitless Labs, a project entangled in blockchain and AI, boasts investors like Coinbase Ventures and the Base Ecosystem Fund. One might say they’ve built their tower on shaky ground if their CEO is now the villain in Binance’s latest op-ed. 🏰
Legal Threats and the Art of Leaks
Binance, ever the gracious host, dismissed the claims as “false and defamatory” and expressed “shock” at Hetherington’s revelation of private communications. The exchange accused him of tarnishing the industry’s “integrity” (a word now synonymous with fragility). Legal threats followed, because nothing says “trust” like a lawsuit. 📑
The exchange clarified its stance with the precision of a poet: no classic listing fees, just refundable deposits (under “specific conditions,” a phrase as vague as a politician’s promise). And no, their executives haven’t sold tokens-probably. 🤞
The controversy has sparked a debate in the crypto community, with traders and forum lurkers claiming similar “requirements” exist elsewhere. One might call it a secret handshake among exchanges, where 8% of tokens are distributed like confetti at a digital parade. 🎉
Mike Dudas, founder of 6MV, confirmed Binance’s alleged tactics, suggesting the exchange has been playing this game “all year long.” A grandmaster’s move, perhaps, but the pieces are still tokens. ♟️
Source-X
Indirect Costs and the Illusion of Fairness
Though Binance denies direct profits, market participants (those sly arbitrageurs of speculation) estimate indirect costs at 7% of a project’s tokens. A price worth paying, some argue, to access Binance’s user base-unless you count the existential dread of legal action. 😬
This dance between exchanges and projects has revealed a tension as old as the blockchain itself: transparency versus greed, or as one might say, “Trust, but verify… and sue.” 🧾
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2025-10-16 01:29