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

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As a seasoned researcher with years of experience delving into the intricacies of the crypto world, I find myself both fascinated and dismayed by this latest debate surrounding listing fees on centralized exchanges like Binance and Coinbase. While it’s heartening to see transparency being encouraged in an industry often shrouded in mystery, the revelations from key figures like Andre Cronje and Justin Sun have left me scratching my head.

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.

In response, Coinbase CEO Brian Armstrong emphasized that projects can list on their platform without charge, encouraging them to submit applications. However, this statement sparked disagreement from Andre Cronje, founder of Fantom, who challenged the claim by asserting that Coinbase had previously requested payments ranging between $30 million and $300 million from Fantom over the years.

Contrary to what Armstrong stated, as per Cronje’s account, Binance didn’t require payment from Fantom for listing on their platform, which is unlike Armstrong’s claims.

As an analyst, I find myself in a comparable scenario.

— H.E. Justin Sun🌞(hiring) (@justinsuntron) November 4, 2024

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

In conclusion, after these disclosures, He Yi, cofounder and head of customer service at Binance, clarified the exchange’s procedure for listing assets. According to Yi, Binance maintains a rigorous set of criteria for listing, ensuring that no sum of money or tokens can bypass their screening process.

She proposed that the speculations and gossips regarding Binance’s listing charges are baseless, and sometimes competitive business dynamics may lead to misinterpretations.

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2024-11-04 11:51