Binance Back in the Spotlight after Allegations Related to Its Asset Listing Cost Policy

JAKARTA - Binance, one of the largest crypto exchanges in the world, is back in the spotlight after allegations related to its asset listing cost policy.

Binance has once again found itself under fire after allegations regarding its asset listing cost policy surfaced. The controversy began when Moonrock Capital CEO Simon Dedic claimed that Binance had requested up to 15% of the total supply of project tokens to be listed on their platforms.

These allegations were further supported by an example of an unnamed project that reportedly raised nearly $1 billion and was required to pay between $50 million and $100 million to be listed on Binance.

According to Dedic, despite the projects undergoing a year-long due diligence process, they were still faced with substantial costs. This sparked discussion among the crypto community, with several figures expressing concern that such a requirement could harm the crypto project ecosystem.

Binance co-founder Yi He responded to the strong criticism by highlighting that their exchange prioritized a stringent selection process rather than the financial value of projects.

“We have never cared only about the financial side or the number of tokens offered. If a project does not pass our selection process, it will not be listed, no matter how much funds or tokens are offered,” Yi stated.

He also invited the community to check Binance's own policies and conduct further research before believing in news that may be designed to instill fear, uncertainty, and doubt (FUD).

This policy, according to Yi, aims to protect investors and ensure that only high-quality projects are listed on Binance. Another Binance supporter chimed in, stating that this policy helps prevent the entry of “sad tokens” that could potentially harm retail investors.

However, Dedic remained unconvinced, accusing Binance of attempting to downplay it with manipulative language while not fully denying the large amount they asked for.

“The narrative or term used does not change the fact that the funds taken from the founders of this project are massive,” he said.

The controversy escalated further as Coinbase CEO Brian Armstrong joined the discussion, claiming that Coinbase offered free-cost listing services through their platform, Coinbase Asset Hub.

This claim was swiftly countered by Andre Cronje, founder of Fantom Network, who asserted that Coinbase did, in fact, ask for very high payments, ranging from $30 million to $300 million. Cronje also revealed that the fees demanded recently reached $60 million.

Adding to his own experience, Tron Foundation's Justin Sun stated that Coinbase had asked for a guarantee of 500 million TRX, or approximately $80 million, and Bitcoin worth $250 million as a condition for listing.

Sun emphasized that Binance did not charge nearly as much for his project, highlighting the vast disparity in the policies of these two exchange giants.