Coinbase CEO Got an Informal Community Note After Justin Sun Debunked Claims of No Listing Charges

Crypto entrepreneur Justin Sun took to X to mention the huge fee that American cryptocurrency exchange Coinbase Global Inc (NASDAQ: COIN) charged to list TRX

Coinbase CEO Brian Armstrong recently took to X to address the bottlenecks in listing assets on Centralized Exchanges (CEXs). His statement comes amid discussions about the high listing fees charged by exchanges.

In his X post, Armstrong stated that asset listings on the Coinbase exchange are completed at no cost. He advised users to drop a note through its asset hub for assistance.

However, crypto entrepreneur Justin Sun quickly took to X to debunk Armstrong's claims. According to Sun, Coinbase charged 500 million TRX ($80 million) to list TRX, and also demanded a $250 million Bitcoin deposit in Coinbase Custody to boost its performance.

Coinbase Listings Trigger Token Growth

Exchange listings are crucial to establishing crypto projects and their tokens. Due to their significant impact, they bring visibility to digital assets. While the tension about the listing fees remains, it is worth noting that Coinbase has supported many crypto projects via listings over the years.

Almost a year ago, the prominent exchange listed Solana-based memecoin Bonk. Quite laudably, the price of the meme coin saw a 40% increase within 24 hours of the listing. By July 2024, Coinbase extended its support to Stader, the primary cryptocurrency of the Stader Labs platform. This news also triggered a price rally for the coin, reaching as much as 50%.

Two months ago, Coinbase made the same move with Zetachain (ZETA) and Across Protocol (ACX), adding them to its roadmap. Zetachain has a robust architecture that supports extensive cross-chain interactions, satisfying one of Coinbase’s many curiosities. The exchange also considers Across Protocol’s innovative solution for managing cross-chain transactions.

On the one hand, the exchange is expanding its platform’s offerings and broadening its user access to innovative digital assets. While it remains unknown if these projects paid per Justin Sun’s claims, the benefits of such listings to the asset can not be overemphasized.